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Hyundai India’s sports utility vehicle (SUV) segment has emerged as a key growth driver. (Photo: Bloomberg)
It will file its papers with the regulatory body Securities and Exchange Board of India (Sebi) today.
The company has reportedly onboarded Kotak Mahindra Bank Ltd and Morgan Stanley as advisers for the initiative. Hyundai is India’s second-biggest carmaker behind Maruti Suzuki. There will be no issuance of new shares in the IPO, which will only see the South Korean parent dilute its stake.
Why is Hyundai India IPO a key moment for the automobile industry
If successful, Hyundai’s bid would mark the largest IPO in Indian history, as the current record is held by the Life Insurance Corporation of India’s IPO, launched in 2022, which raised about $2.5 billion.
Hyundai India’s IPO would mark a watershed moment in the automobile industry, as it bears the potential to trigger investor interest, growth opportunities, and reshape the industry’s overall landscape. A successful IPO could encourage other players in the industry to explore similar opportunities, leading to a healthy and competitive market.
In May, the company reported a 7 per cent year-on-year increase in total sales at 63,551 units. Its exports grew 31 per cent in May (Y-o-Y) to 14,400 units.
The company’s sports utility vehicle (SUV) segment has emerged as a key growth driver, dominating domestic sales with a remarkable 67 per cent share, the May data showed.
First Published: Jun 14 2024 | 2:52 PM IST
