Hyundai Motor to Sell 142 Million Shares in $3 Billion IPO Opening October 14, Valuing Indian Unit at $19 Billion

Oct 9, 2024, 05:08 AM

Hyundai Motor plans to sell 142 million shares in its Indian subsidiary, Hyundai Motor India, as part of an upcoming initial public offering (IPO) that is set to value the company at up to $19 billion. The IPO will open for institutional investors on October 14, followed by a subscription period for the general public from October 15 to 17. The price range for the shares is expected to be between 1,865 and 1,960 rupees each. This IPO is projected to raise approximately $3 billion, making it the largest stock offering in India for the year. Hyundai Motor India, which holds a 15% market share and has a production capacity of 824,000 units, is looking to enhance its growth trajectory in the Indian market. The shares are anticipated to start trading on October 22.