In September or October, Hyundai Motor India will make its debut in the markets with an Initial Public Offering (IPO) in the primary market. This marks the first initial share sale by an automaker in India since the listing of the country’s largest carmaker Maruti Suzuki back in 2003. Hyundai considers India its third biggest revenue generator after the United States and South Korea.
Over the next two weeks, the Indian unit of the South Korean auto group Hyundai Motor is expected to file a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The market regulator could then take 60-90 days for the final approval.
#Hyundai #Motor gearing up to drive into Indian #capital market.
Hyundai aims for a USD 22-28 #billion IPO, enlisting several #investment banks for the process. This #IPO could potentially re-rate the #Indian automobile sector, benefiting Hyundai’s closest rival, #Maruti #Suzuki. pic.twitter.com/w3o5EiwZgH— CarUdyog (@Car_Udyog) June 11, 2024
According to Reuters, citing insider sources, the company is focusing on its expansion plans in India, intending to introduce its first hybrid cars in the country by 2026. This strategic shift aims to strengthen the company’s presence in a crucial market, moving beyond electric vehicles. Hyundai, India’s second-largest carmaker, and Kia are both planning to launch hybrid SUVs in 2026 or 2027. The sources also mentioned that the companies’ electric vehicle plans for India are proceeding as scheduled.
Also Read: Reliance Infrastructure Soars In Market As Anil Ambani’s Strategy Spurs Investor Confidence
In recent years, Hyundai has made significant strides in the Indian market, with its innovative models and strong after-sales service. The capital market entry is expected to bolster its market position further, enabling it to accelerate its growth trajectory. This initiative will likely enhance Hyundai’s brand visibility and consumer trust, as it demonstrates the company’s commitment to investing in the local economy and contributing to the automotive industry’s overall growth in India.
Also Read: Sensex Breaks Records Post Modi’s Swearing-In, Crosses 77,000 Mark
