Hyundai’s Indian Unit Prepares for Largest IPO, Targets Rs 25,000 Crore; Possible October Launch
South Korea’s company Hyundai is preparing to list its Indian unit Hyundai Motor India in the Indian market. The company could launch its IPO around October-November 2024, as per informed sources. With this preparation, it’s indicated that the company will sell around 10% of its shares at an estimated valuation of about INR 2.5 lakh crore.
Record-Breaking IPO on the Horizon
The suggested IPO is expected to be valued at around INR 25,000 crore. If it materializes, it will be the largest IPO in the country to date. In 2022, the government sold a 3.5% stake in LIC, raising approximately INR 21,000 crore through an IPO.
Hyundai Motor India: Poised to Lead the Automobile Sector
Hyundai Motor India has been in discussions with several banks for its IPO. If Hyundai Motor India gets listed in the stock market, it will become the fourth-largest automobile company after Maruti-Suzuki, Tata Motors, and Mahindra & Mahindra. Hyundai Motor India is the second-largest car company in the country, following Maruti.
January Sees Surge in Hyundai’s Sales
In January 2024, Hyundai Motor India sold 67,615 units of its lineup, marking an 8.5% increase on an annual basis. Local sales accounted for 57,115 units, demonstrating a 14% growth annually. In January 2023, local sales stood at 50,106 units. In terms of exports, Hyundai shipped 10,500 units from India to other countries in January 2024, showing a 14% decrease annually. In January 2023, the company had exported 12,170 units.
