Hyundai will bring the country's largest IPO to raise three billion dollars, preparing to overtake LIC

The company has said that it has proposed the sale of 142,194,700 equity shares of a face value of Rs 10 each. It aims to reap the benefits of listing equity shares on stock exchanges. The company expects that the listing of equity shares will enhance its visibility and brand image and provide liquidity and a public market for equity shares in India.

According to the IPO proposal (DRHP) of Hyundai, the country's second-largest carmaker, 50 percent of the shares issued for the sale of the company will be reserved for QIBs i.e. institutional investors. 35% of the shares will be reserved for retail investors. At the same time, 15 percent of the shares will be reserved for non-institutional investors.

According to the details given by Hyundai, since its inception, till December 2023, the company has invested $5.04 billion (Rs. 29740 crores approx) in its Indian operations. Hyundai Motors' FY 2023 figures show how the company was transformed into a profit-making firm in two decades. Given the hope in the Indian stock markets, the company believes that this is the right time for the promoters to partially reduce their stake. The company's Indian operations are growing at a faster pace than the rest of the world. The company believes that its listing in the stock market will improve its value and recognition.