Hyundai Targets Multibillion Dollar Valuation: Set To Be the Biggest IPO in India Hyundai's IPO specifics such as size, valuation, and other particulars are under discussion and are subject to change, with the listing expected to take place on October 22.
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Korean automaker Hyundai Motor Company is reportedly targeting a valuation of US$19 billion for its Indian subsidiary, Hyundai Motor India in what could be the largest initial public offering (IPO) in India's history according to insider sources from a Bloomberg report
The report says that the automaker plans to divest a 17.5 per cent stake in its Indian business, raising close to US$3.3 billion based on a valuation estimate
Hyundai's IPO specifics such as size, valuation, and other particulars are under discussion and are subject to change, with the listing expected to take place on October 22.
The offering is said to have drawn interest from foreign and local institutional investors, asset managers, insurers, pension funds, and sovereign wealth funds. Hyundai must also file the required regulatory paperwork with the Securities and Exchange Board of India (SEBI).
Upon completion, this IPO would surpass the record held by the Life Insurance Corporation of India (LIC), which raised close to INR 20,600 crore in 2022. Indian listings have already generated more than US$9 billion in 2024, which is twice the amount raised in the same period of 2023.
