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. 

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

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

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

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

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