Hyundai Plans IPO in India; Aims to Raise $3 billion: Report

Hyundai Motor India is all set to go public. According to reports, the company has filed draft papers with SEBI (Securities and Exchange Board Of India) for its IPO. According to a report, the company plans to raise around $3 billion via an initial public offer (IPO) at a targeted valuation between $18-20 billion. Acko Drive has reached out to the company for a statement but has not received a response yet

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Hyundai hopes to raise about $3 billion from this IPO according to a report and if it succeeds, it could be one of India's biggest IPOs ever. It might even beat Life Insurance Corp. of India's $2.7 billion IPO from 2022.

Also Read: Hyundai's Talegaon Plant To Be Production Ready By 2025

In India, Hyundai is the second-largest carmaker after Maruti Suzuki. Last year, the made ₹60,000 crore in revenue and ₹4,653 crore in profits. That's the highest among car companies in India which is not listed on the stock market. India accounted for 13 percent of the company's global sales and the country is also an export hub for it. The company is all set to open its newly acquired (from General Motors) facility in Talegaon in 2025 and this will increase its annual overall production capacity (Chennai Plant included) to 1 million units.