Hyundai India's Potential Blockbuster IPO to Raise $3 Billion

Hyundai's Indian arm is expected to file preliminary papers with Sebi to raise at least USD 3 billion via an initial public offering (IPO). If successful, it would surpass LIC's USD 2.8 billion share sale and mark Hyundai as the first automaker in two decades to undertake an IPO in India.

In a landmark financial move, Hyundai's Indian subsidiary is set to submit preliminary documents to the Securities and Exchange Board of India (Sebi) for a monumental initial public offering (IPO) worth a minimum of USD 3 billion, sources revealed on Friday.

If the plan materializes, Hyundai will achieve the largest-ever IPO in India, eclipsing LIC's historic share sale which garnered USD 2.8 billion. This significant event places Hyundai as the first automaker in over twenty years to enter the Indian stock market, following Japanese giant Maruti Suzuki's 2003 listing.

Earlier this week, Ola Electric received Sebi's approval for its own IPO, highlighting a trend among auto companies. Hyundai Motor India Ltd (HMIL) may dilute 15-20% of its stake, translating to raising USD 3.3-5.6 billion. The aim is to expedite the filing process with Sebi.

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