Hyundai Motor India files paper to raise Rs 25,000 crore via IPO
6 months, 1 week ago

Hyundai Motor India files paper to raise Rs 25,000 crore via IPO

New Indian Express  

NEW DELHI: South Korean automaker Hyundai Motor India is said to have filed draft papers for an initial public offering for its India unit ) with capital markets regulator SEBI on Friday. According to reports, Hyundai is likely to sell 14.2 million shares or 17.5% stake in order to raise Rs 25,000 crore via this IPO which also will be India’s biggest in its capital market history. Sources had previously estimated Hyundai’s India unit would command a valuation of up to $30 billion, making it one of the most valuable auto companies on the bourses. According to reports, HMIL will not issue new shares in the IPO which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called “offer for sale” route.

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