Hyundai Motor IPO: The Rs 21,000 crore IPO of Life Insurance Corporation of India (LIC) in India in 2022 is the biggest IPO so far. Now Hyundai Motor India is also preparing for its IPO. According to reports, the company may file its updated draft with capital market regulator SEBI on October 7. After this, the price band of Hyundai Motor India IPO is likely to be announced in the coming weeks. This IPO of Hyundai Motor India can be one of the biggest IPOs in the Indian stock market, and there is curiosity among investors about it.
Hyundai Motor IPO: South Korea’s leading automobile company Hyundai Motor Company is preparing for a big IPO for its Indian subsidiary, Hyundai Motor India Limited (HMIL). According to the information, the company is seeking a valuation of $19 billion through this IPO. According to a Bloomberg report, this IPO of Hyundai can be worth Rs 25,000 crore, which can make it the biggest IPO in the history of India.
Hyundai Motor IPO Launch likely on October 14
According to reports, Hyundai Motor India’s IPO may be launched on October 14, and it is expected to close on October 16. Hyundai is planning to sell 17.5% stake through the IPO, which will be a total of 14,21,94,700 shares. This will be an Offer for Sale (OFS), in which no new shares will be issued.
Curiosity Among Investors for Hyundai Motor IPO
Bloomberg report says that many foreign and local institutional investors have shown interest in Hyundai Motor India’s IPO. This includes major institutional investors like asset managers, insurance companies, pension funds, and sovereign wealth funds. This shows that there is a lot of enthusiasm among investors about this IPO. Apart from this, Hyundai can file an updated draft with the capital market regulator SEBI on 7 October.
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Discussions Continue about Hyundai Motor IPO
However, according to a Bloomberg report, the size, valuation and timing of the Hyundai IPO have still not been finalized, and may change. The company is deliberating on all these aspects, and all the details will be made public only after it is finalized. It is clear that this move by Hyundai is being seen as an important event in the Indian IPO market.
India’s Biggest IPO Ever
Currently, the Rs 21,000 crore IPO of Life Insurance Corporation of India (LIC) in 2022 is the largest IPO in the country. The proposed IPO of Hyundai Motor India can break this record. Hyundai had submitted Draft Red Herring Prospects (DRHP) with SEBI on June 15, and has also received approval for the IPO from SEBI.
Hyundai Motors IPO will sell Stake through OFS
No new shares will be issued in this IPO of Hyundai Motor India. This will be a complete Offer for Sale (OFS), in which existing shareholders will sell their stake. Under this process, the existing shareholders of the company, who are stakeholders in the company, will sell some of their stake in the public market. Through this IPO of Hyundai Motor India Limited, investors will get an opportunity to buy stake in the company.
Big Stir in Indian Automobile Sector
Hyundai Motor India’s IPO is not only a big opportunity for investors, but it can also create a big stir in India’s automobile sector. Hyundai Motor India is the second largest car manufacturer in the country, and its IPO can open up new possibilities in this sector.
Overall, Hyundai Motor India’s proposed IPO can not only prove to be a new milestone in the Indian IPO market, but it can also provide big opportunities for investors. The market is keeping an eye on the prospects of this IPO of Rs 25,000 crore of the company.
for more you can read this – The Economics Times
