Hyundai Motor India Launches Landmark Rs 27,870 Crore IPO

Hyundai Motor India Ltd has announced a major Rs 27,870 crore IPO, the largest in India to date. The offering, set for October 15-17, is an entirely offer-for-sale by the parent Hyundai Motor Company. The IPO aims to enhance Hyundai's brand visibility and stimulate its market growth.

Hyundai Motor India Ltd (HMIL), the prominent subsidiary of the South Korean automaker, revealed its ambitious plan to launch a record-breaking Rs 27,870 crore initial public offering (IPO), surpassing all previous offerings in India.

Set to open subscriptions from October 15 to 17, this IPO is significant as it is the first of its kind for an automaker in over two decades since Maruti Suzuki's market debut in 2003. This offering will solely be an offer-for-sale by Hyundai's parent company, with no new shares being issued.

The strong market conditions and festive demand have positioned this IPO as a strategic move to bolster Hyundai's visibility and offerings within the Indian market, capitalizing on the robust investor interest and favorable economic indicators.

(With inputs from agencies.)