Hyundai IPO Update: Hyundai Motor India will bring record IPO of Rs 25,000 crore, documents filed with SEBI, full details

Hyundai Motor India files draft IPO papers with SEBI for record Rs 25,000 crore offer: Hyundai Motor India (HMI) has started preparations to bring an Initial Public Offering (IPO). For this, Hyundai has filed preliminary documents with the stock market regulator SEBI. According to the draft, the proposed IPO is entirely an Offer for Sale (OFS) of 142,194,700 equity shares by Hyundai Motor Company. No new shares will be issued in this. PTI-Bhasha sources confirmed in February this year that South Korean carmaker Hyundai Motor wants to raise about three billion dollars i.e. about Rs 25,000 crore through the IPO.

If SEBI approves, Hyundai will leave LIC’s IPO behind

If the company’s IPO gets SEBI’s approval, it will be India’s largest public issue. It will also surpass LIC’s Rs 21,000 crore IPO that came two years ago. South Korean carmaker Hyundai may sell 15-20 percent stake in its Indian unit Hyundai Motor India to raise funds. Since this public issue is completely OFS, Hyundai Motor India will not receive any proceeds from the IPO.

Also read : Ola Electric IPO: SEBI approves Ola Electric’s IPO, issue of 7250 crores including OFS, check details

Hyundai is India’s second largest car maker after Maruti Suzuki India. Its IPO will prove to be an important milestone for Indian industry. Hyundai will be the first vehicle manufacturer to offer an initial share sale since Maruti Suzuki was listed in 2003. This week, electric two-wheeler company Ola Electric has received approval from capital market regulator SEBI to launch an IPO.

Hyundai is the second largest car manufacturing company

Hyundai Motor India started operations in India in 1996 and currently sells 13 models across different segments.Hyundai Motor India, the second largest car maker, sold a total of 7,77,876 vehicles in the Indian market during the financial year 2023-24. With this, the company recorded its highest ever sales. On an annual basis, its sales increased by 8 per cent as compared to FY 2022-23. The company also recorded its highest domestic sales ever since entering the Indian market of 6,14,721 units in FY 24. During the January-March 2024 period, 2,59,669 units were sold as compared to 2,46,009 units. Its sales increased by 5.55 per cent on an annual basis. Creta, Exter and i20 models are among the best-selling vehicles of Hyundai. The Indian unit has a share of about 13% in Hyundai’s global sales.