Hyundai Motors Gear Up for IPO Launch with SEBI Green Light
Hyundai Motors IPO: Automobile sector company Hyundai Motor India Limited preparing to launch their IPO in the market soon. The Securities and Exchange Board of India i.e. SEBI has given approval to Hyundai Motor India Limited to launch IPO.
India’s stock market can take a new turn in the coming days because the IPO of automobile company Hyundai Motor India is going to knock in the market. This IPO will break all the records of the Indian stock market. Be it LIC, Reliance Power, or Paytm, this IPO is going to be the biggest IPO in the country so far.
Market regulator SEBI has also given the green signal to the company to bring IPO.
Hyundai Motor India is a subsidiary of South Korean auto company Hyundai Motors. The company has been in India for more than 25 years. Hyundai Motor India is going to bring an IPO of 3 billion dollars (about Rs. 25,000 crore).
According to this, the valuation of the company is going to be around 20 billion dollars (about 1.67 lakh crore rupees).
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All old records will be broken
With this IPO, the records of all the IPOs that have come in the country so far will be broken. This is going to be the biggest IPO in the country. Earlier, the IPO of Life Insurance Corporation of India (LIC IPO) was about Rs. 21,000 crore, Paytm IPO was Rs. 18,300 crore, Coal India IPO was Rs. 15,199 crore and Reliance Power IPO was Rs. 11,563 crore.
Swiggy’s IPO is also going to come in the market, which will be about Rs. 10,000 crore.
Hyundai’s IPO will be OFS
Hyundai India submitted its papers to SEBI in June to bring IPO. In this IPO, Hyundai India’s promoter company Hyundai Motors will sell some of its stake and about 14,21,94,700 shares will be kept for Offer for Sale (OFS). Hyundai Motor India sells 13 models in India from commuter cars to SUV segment. Its sister company Kia Motors also has a strong presence in India.
After nearly 20 years, an automobile company is going to be listed in the stock market in India. Earlier in the year 2003, the country’s largest automobile company Maruti Suzuki India had launched its IPO.
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