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Hyundai Motor India, which produces popular SUVs like the Exter, Venue and Creta, has actually submitted a draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise roughly USD 3 billion (Rs 25,000) through a going public (IPO), according to sources.
This IPO is considerable not just for its size however likewise for its prospective effect on the Indian automobile market and the more comprehensive market when it comes to the very first time in 20 years a carmaker is going to be public. The last one to do so was Maruti Suzuki India in 2003.
If effective, this will be India’s largest-ever IPO, going beyond the record set by that of LIC at USD 2.7 billion (Rs 22,558 crore) in 2022.
Hyundai IPOKey information
IPO size: The IPO is anticipated to raise around USD 3 billion (Rs 25,000), with a targeted evaluation in between USD 18 billion (Rs 1,50,390 crore) and USD 20 billion (Rs 1,67,100 crore).
Shares used: Hyundai will offer up to 142 million shares in the IPO, which is around 17.5% of the overall 812 million shares impressive. The carmaker’s IPO will be an offer-for-sale (OFS) by the existing investor. There will be no fresh concern of shares.
Advisors: The deal is being recommended by Morgan Stanley, J.P. Morgan, Kotak Mahindra Capital, Citigroup and HSBC Securities.
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Kraig Prohaska
Jakob Auer