Sebi gives green signal to Rs 25,000 cr IPO of Hyundai Motors; issue likely in October

After getting a nod from the capital markets regulator Sebi, Hyundai Motors India is set to launch India's largest-ever initial public offering (IPO).

After getting a nod from the capital markets regulator Sebi, Hyundai Motor India Ltd. it is set to launch India's largest-ever initial public offering (IPO). The company had filed its draft papers in June 2024 and select sources suggest that the auto major may launch its IPO as soon as next month.

South Korean auto giant has received final observations from the Indian capital market's watchdog. Hyundai's Indian arm is eyeing to raise $3 billion, around Rs 25,000 crore through its initial stake sale. The issue is entirely an offer-for-sale (OFS) by the promoter Hyundai Motor Company.

Hyundai Motors India expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity and a public market for the equity shares in India. Hyundai Motor India was India's second-largest carmaker after Maruti Suzuki in FY24 in terms of passenger sales volumes.

Citi, HSBC Securities, JP Morgan, Kotak Mahindra Capital and Morgan Stanley are the lead managers banks advising on the transaction with law firm Shardul Amarchand Mangaldas acting as the company counsel, Cyril Amarchand Mangaldas as the banks' counsel and Latham and Watkins acting as the international counsel. KFin Technologies Ltd. is the registrar for the issue.

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