Hyundai Motor India's Landmark IPO Sets Stage for Future Growth

Hyundai Motor Company launched the IPO of its Indian subsidiary, Hyundai Motor India Ltd, marking a significant commitment to the Indian market. Despite a muted debut, the IPO was oversubscribed, signaling strong institutional interest. This move represents Hyundai's dedication to becoming a key player in India.

In a bold move underscoring its commitment to the Indian market, Hyundai Motor Company launched the IPO of its Indian subsidiary, Hyundai Motor India Ltd (HMIL), as announced by Hyundai Motor Group Executive Chair Euisun Chung on Tuesday.

The IPO marked a historic moment, surpassing previous records, although the shares experienced a nearly 6% drop post-listing against the issue price of Rs 1,960. Instigated by institutional investors, the Rs 27,870-crore offer was oversubscribed by 2.37 times.

This milestone represents Hyundai's steadfast belief in India's potential as a future automotive leader, reinforced by substantial investments and expanded R&D capabilities. The company plans to funnel Rs 32,000 crore into enhancing its footprint and adopting strong EV localization by 2032.

(With inputs from agencies.)