Hyundai Motor India set to make stock market debut after record IPO
The Indian subsidiary of South Korean automotive giant Hyundai Motor is set to make its stock market debut this week following a record initial public offering (IPO), according to industry officials on Monday. Shares of Hyundai Motor India are set to start trading on the Indian stock market on Tuesday, following last week's $3.3 billion IPO subscription process. It marks Hyundai Motor's first listing outside South Korea and the largest IPO in the history of the Indian stock market, surpassing the previous record set by the Life Insurance Corporation of India (LIC) in 2022, which then raised $2.5 billion. Also Read - Upcoming IPOs Worth ?10,985 Crore Launching Next Week: Key Details and Dates The IPO price band has been fixed at 1,865-Rs 1,960 per share. The IPO is a pure offer for sale (OFS) and the entire proceeds will go to the promoter. India serves as a key global production base for the Korean automotive giant. Last year, Hyundai produced 765,000 vehicles in India, reports Yonhap news agency.