Hyundai IPO: Hyundai Motor India Limited, the Indian arm of South Korea’s Hyundai Motor Co, has received approval from SEBI to launch its proposed initial public offering (IPO), which is expected to raise around $3 billion (approximately Rs 25,000 crore). This IPO, set to be India’s largest, is anticipated to launch in October..
In June, Hyundai Motor India Ltd submitted a Draft Red Herring Prospectus (DRHP) to SEBI, seeking a valuation of $18 billion to $20 billion.
9 Things About Hyundai IPO
1 – If successful, Hyundai Motor India’s IPO will be the largest in Indian history, surpassing LIC’s Rs 21,000 crore share sale in 2022.
2 – The DRHP reveals that the IPO will be an Offer-for-Sale (OFS) of 142,194,700 equity shares by Hyundai Motor Company, with no fresh issue of shares.
3 – The face value of each equity share will be Rs 10.
4 – The listing is expected to boost Hyundai’s visibility and provide liquidity for its shares in India.
5 – The IPO will offer 142 million shares, representing a 17.5% stake by the South Korean parent company.
6 – Hyundai will be the first carmaker to go public in India since Maruti Suzuki in 2003.
7 – Advisors for the IPO include Citi, HSBC, JP Morgan, Kotak Mahindra Capital, and Morgan Stanley.
8 – Shardul Amarchand Mangaldas is advising Hyundai, while Cyril Amarchand Mangaldas is representing the banks.
9 – Latham and Watkins are serving as international counsel for the company.
