Hyundai may raise Rs 25,000 crore via IPO

New Delhi, June 14

South Korean automaker Hyundai’s Indian arm is likely to file preliminary papers with Sebi shortly to raise at least USD 3 billion (around Rs 25,000 crore) through an initial public offering, sources close to the development said on Friday.

The company’s initial public offering (IPO), if it goes through, would be the largest in India, surpassing LIC’s share sale of Rs 21,000 crore. This development marks a significant milestone for the Indian industry, as it is the first automaker to go for an initial share sale in over two decades, after Japanese automaker Maruti Suzuki’s listing in 2003.

Earlier this week, electric two-wheeler company Ola Electric received capital markets regulator Sebi’s clearance to raise funds through an IPO. Under the proposed IPO, Hyundai Motor India Ltd (HMIL) may dilute 15-20 per cent stake to raise funds in the range of USD 3.3-5.6 billion, sources said.