📷 Image Credits: Firstpost
Hyundai Motor India, the Indian arm of South Korean automaker Hyundai, has made a significant move by filing draft IPO papers with the market regulator, SEBI. The company is aiming to raise a whopping $3 billion or Rs 25,000 crore through an Initial Public Offering (IPO), which is set to be the biggest in the Indian market if successful.
The proposed IPO is structured as an offer for sale (OFS) of 142,194,700 equity shares, with no fresh issue of shares planned by the auto major. The funds raised from the IPO will be utilized for expansion purposes, marking a crucial milestone for Hyundai’s operations in India.
This landmark event would also mark the first initial share-sale by an automaker in over two decades in India, following the listing of Maruti Suzuki in 2003. Hyundai Motor India, which started its operations in the country in 1996, currently offers 13 models across different segments and has witnessed a significant growth in sales.
In the financial year 2024, Hyundai India recorded its highest-ever sales of 7,77,876 units, with a year-on-year growth of over 5%. Notably, the Indian market contributes 13% to Hyundai’s global sales, emphasizing its strategic importance for the company.
Key models like Creta, Exter, and i20 have been top sellers for Hyundai India, contributing to its strong performance in the market. The listing of equity shares in the IPO is expected to enhance the company’s visibility, brand image, and provide liquidity and a public market for the shares.
This move by Hyundai Motor India signifies a significant step for the automotive industry in India and reflects the company’s commitment to expansion and growth in the market. Stay tuned for more updates on this developing story on HeadlineFly.com.
