Hyundai Motor India has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). This development marks a significant milestone for the Indian industry, as it is the first automaker initial share-sale in over two decades, following Japanese automaker Maruti Suzuki's listing in 2003.
The company’s proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component. The company is diluting some of the stake through the OFS route. The company expects that the listing of the equity shares will enhance its visibility and brand image and provide liquidity and a public market for the shares.
Hyundai Motor India is a wholly owned subsidiary of the Hyundai Motor Company headquartered in South Korea. It is the second largest automobile manufacturer in India.
| Company Name | CMP |
|---|---|
| Tata MotorsPassenger | 355.35 |
| Maruti Suzuki | 13725.40 |
| Mahindra & Mahindra | 3329.50 |
| Hyundai Motor India | 1852.45 |
| Mercury Metals | 30.94 |
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