INSUBCONTINENT EXCLUSIVE:
Hyundai India will start taking orders for its $3.3 billion initial public offering in Mumbai on Monday3 min read Last Updated : Oct 14
2024 | 8:43 AM IST
Hyundai India will start taking orders for its $3.3 billion initial public offering in Mumbai on Monday, the company
shows that India's red hot capital markets show no sign of cooling, with 260 companies having raised more than $9 billion so far in 2024,
will not issue new shares in the IPO, in which its South Korean parent will sell up to 17.5 per cent of its stake in the wholly-owned unit
stock from Monday while retail and other investors can place orders on Tuesday and Wednesday.
The stock will begin trading in Mumbai on
This would help the South Korean automaker strengthen its position in the Indian market as the country focuses on environmentally friendly
India's No.1 player Maruti Suzuki as the South Korea automaker would likely invest to expand its production in India," said Shin Yoon-chul,
an analyst at Kiwoom Securities
IPO will be the largest ever in India if successful, eclipsing the previous record of Life Insurance Corporation of India's 2022 deal when
billion US IPO in July.
Hyundai is India's second-largest automaker after Maruti and is looking to take market share from domestic rivals
gasoline-powered models tailored to the market starting in 2026.(Only the headline and picture of this report may have been reworked by the
Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)First Published: Oct 14 2024 | 7:34 AMIST
