In a surprising revelation today, South Korean carmaker Hyundai Motor India has announced that it will be rolling out its initial public offering in India soon. Word has it that Hyundai IPO will hit the markets relatively soon. Expectations are that Hyundai IPO DRHP will be filed with the Indian stock market regulator, the Securities and Exchange Board of India (Sebi) within the next fortnight itself. Maruti Suzuki IPO had come in way back in 2003. For Hyundai, the Indian market is very significant and is third on the list of its global revenue creators.
After the conclusion of the Hyundai IPO, the carmaker will join a select list of listed automobile companies in India including Tata Motors, Maruti, Mahindra and more.
After filing its draft red herring prospectus (DRHP) with Sebi, the market regulator itself may well take up to anything between two months or even a quarter of an year to give all clearances, reports Economic Times. That may well indicate that the investing public may see the actual Hyundai IPO launch sometimes in either September or October, 2024.
Whether the offering is launched at a premium to Maruti Suzuki shares or not remains to be seen, but going for it is the fact that this extremely combative and aggressive company has been quite active in offering new products and the best technology to Indian users in a bid to topple the market leader.
This comes on the back of a targetted expansion drive by Hyundai and its unit Kia into hybrid vehicles after its electric vehicles foray, which is currently quite small, but is expected to explode going forward especially with government support for such specific segments that do not guzzle petroleum and are seen as being much more environmentally friendly.
The valuation that Hyundai may be looking at, just for its India unit, is around $22-28 billion, reports ET and the carmaker may sell an up to 20% shareholding. The entire Hyundai IPO in India will be an offer for sale (OFS) emanating from the company’s owners in South Korea.
Hyundai India has a number of cars that have proved to be quite popular over the years including Hyundai Creta, Santro, i10, i20 and more
Hyundai IPO: DRHP set to be filed with Sebi within the next fortnight; the South Korean carmaker is the first in India to do so since Maruti Suzuki initial public offering decades ago. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
