Hyundai Motors’ Indian division is gearing up for a monumental IPO, aiming to raise around $3 billion (approximately Rs. 25,000 crores) from the market. The company is set to submit its application to SEBI shortly. If approved, this IPO could become the largest in India’s history, surpassing LIC’s record-breaking Rs. 21,000 crore IPO.
This move follows in the footsteps of Maruti Suzuki, the first Japanese automobile company to go public in India back in 2003. Recently, Ola Electric also received SEBI approvals for its IPO. Hyundai Motors plans to sell a 15-20 percent stake through this offering.
Hyundai, which began its operations in India in 1996, currently offers 13 models across various segments and stands as the second-largest car manufacturer in the country, just behind Maruti Suzuki.
