Hyundai Motor to offer 14.22 crore shares in Rs 25,000 crore IPO

Hyundai Motor IPO : Hyundai Motor India is set to offer 14.22 crore existing shares in its highly anticipated initial public offering ( IPO ), according to a regulatory filing by its parent company, Hyundai Motor. 

The filing indicates that the IPO will not involve any fresh share issuance, with the offering potentially valued at up to Rs 25,000 crore. Further details, including the price band and the IPO date, will be disclosed at a later stage.

Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited public subscription on October 14. This would be the largest initial public offering ( IPO ) in India after LIC's initial share sale of Rs 21,000 crore.

Sources had previously stated that the South Korean automaker is looking to raise at least $3 billion (about Rs 25,000 crore) through an initial share sale.

The development marks a significant milestone for the Indian industry, as it is the first automaker's initial share sale in over two decades, following Japanese automaker Maruti Suzuki 's listing in 2003.

The South Korean parent is diluting some of the stake through the OFS route. Since the public issue is completely an OFS, Hyundai Motor India Ltd, which is the second largest carmaker in India after Maruti Suzuki India, will not receive any proceeds from the IPO .