Delhi Delhi. Hyundai Motor India's upcoming initial public offering (IPO), which is expected to open for subscription soon, will see the company sell 142 million (14.2 crore) shares. Finally, according to a report, the South Korean automaker said in a regulatory filing that He will retain 670 million shares or 82.5 per cent stake in Hyundai Motor India. Hyundai Motor is expected to launch its much-awaited initial share sale for public subscription on October 14, valuing it at around Rs 25,000 crore, according to a report.
After LIC's Rs 21,000 crore initial share sale, it will be the largest initial public offering (IPO) in India. The development is a major turning point for the Indian auto industry as since the 2003 listing of Japanese automaker Maruti Suzuki, it It is the first automaker to sell its first shares in more than 20 years.
Through the OFS channel, the South Korean parent is partially reducing its stake. Hyundai Motor India Limited, the country's second largest automaker after Maruti Suzuki India, will not get any income from the IPO as this public issue is completely OFS. On September 24, the Securities and Exchange Board of India (SEBI) gave permission to the automaker to launch its initial public offering (IPO). According to reports in February this year, the South Korean automaker intends to raise at least $3 billion through an initial public offering (IPO).
Electric two-wheeler company Ola Electric Mobility successfully completed its initial share sale of Rs 6,145 crore and got listed on the stock exchanges in September. The primary market is witnessing a surge in interest from issuers and investors from various industries at the time of IPO launch. 2024 has proven to be a great year for the primary market, with many companies launching their initial public offerings. News reports say initial public offerings (IPOs) worth more than Rs 50,000 crore or Rs 500 billion will hit the primary market around Diwali.
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