Hyundai IPO gets Sebi clearence. Check expected listing date

Hyundai Motors India is all set to launch the country’s biggest-ever initial public offering (IPO) after receiving approval from the Securities and Exchange Board of India (Sebi).
The company submitted its draft papers in June 2024 and the IPO may be launched as soon as October, reported Businesstoday.in.
The South Korean automaker’s Indian unit plans to raise $3 billion, which is around Rs 25,000 crore, through the IPO.
The offering will be a complete offer-for-sale (OFS), meaning that the promoter, Hyundai Motor Company, will sell a portion of its shares to the public.
This IPO is expected to not only raise funds but also improve Hyundai Motors India’s visibility in the Indian market.
By listing on the stock exchange, the company aims to increase its brand image and give more liquidity to its shares.
Hyundai Motors India was the second-largest carmaker in India in terms of passenger vehicle sales in the financial year 2023-24, just behind Maruti Suzuki.
Several major financial institutions are involved in handling the IPO process. Citi, HSBC Securities, JP Morgan, Kotak Mahindra Capital, and Morgan Stanley are the lead banks advising Hyundai on the transaction.
In terms of legal support, the company has hired Shardul Amarchand Mangaldas as its counsel, while Cyril Amarchand Mangaldas will represent the banks. Internationally, Latham and Watkins will act as legal counsel. KFin Technologies has been appointed as the registrar for the issue.
The upcoming IPO is expected to be a major event in the Indian stock market, given its size and the reputation of Hyundai Motors India.
However, more details about the share price and exact launch date are awaited as the company prepares to enter the final stages of its offering.