Exciting Milestone: Hyundai Motor India IPO Triumphs with SEBI Approval – Report | IPO News
Hyundai Receives SEBI Nod for $3 Billion IPO
Hyundai Motor India has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO), according to informed sources. The South Korean automaker aims to raise $3 billion at an estimated valuation of $20 billion, potentially becoming the first carmaker to go public in India since Maruti Suzuki’s IPO in 2003.
In a bid to regain market share from domestic rivals like Tata Motors, Hyundai is expanding its SUV lineup and preparing to launch its first India-made electric vehicle next year. Additionally, the company plans to introduce two gasoline-powered models tailored for the Indian market by 2026.
India represents Hyundai’s third-largest revenue-generating market globally, following the U.S. and South Korea. The automaker has already invested $5 billion in India and has committed an additional $4 billion over the next decade.
In related news, SEBI has also approved the IPO of Swiggy, the SoftBank-backed food delivery giant, which aims to raise $1-1.2 billion at a valuation of approximately $15 billion.
First Published: Sep 25 2024 | 12:39 AM IST
Original Story https://www.business-standard.com/markets/ipo/hyundai-motor-india-gets-market-regulator-sebi-s-nod-for-ipo-launch-report-124092500014_1.html
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