Hyundai IPO Revs Up India’s Biggest ₹25,000 Cr Mega Offering

Hyundai Motor India files for ₹25,000 crore IPO, India's biggest, via 17.5% stake OFS; proceeds to go to parent firm.
Hyundai IPO Revs Up India's Biggest ₹25,000 Cr Mega Offering

Hyundai Motor India has filed draft papers for a ₹25,000 crore IPO, proposing an Offer for Sale (OFS) of 17.5% stake (142,194,700 equity shares). It would be India’s largest IPO so far, surpassing LIC’s ₹21,000 crore fundraise. As an OFS, Hyundai Motor India won’t receive any funds; proceeds will go to the parent company.

The IPO would mark the first public issue by a carmaker in India since Maruti Suzuki’s in 2003. Hyundai Motor India, which started operations in 1996, sells 13 models including Creta, Venue, and i20. In FY24, it sold 6.14 lakh passenger vehicles, an 8.3% year-over-year growth.

Read more about Hyundai Motor IPO Review here.

LIC’s ₹21,008 crore IPO remains the largest in India so far. It comprised an OFS of 22.14 crore shares priced at ₹902-₹949 per share. One97 Communications (Paytm’s parent) raised ₹18,300 crore in the second-largest IPO, priced at ₹2080-₹2150 per share.

Coal India raised ₹15,200 crore in 2010, the third-largest IPO then. Reliance Power’s ₹11,563 crore IPO in 2008 and General Insurance Corp’s ₹11,175 crore issue in 2017 were the fourth and fifth-largest IPOs respectively.

Among the top ten largest IPOs are SBI Cards (₹10,335 crore), New India Assurance (₹9,600 crore), Zomato (₹9,375 crore), DLF (₹9,188 crore), and HDFC Life Insurance (₹8,695 crore).

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