Hyundai Motor plans to offload 14.2 crore shares in upcoming mega IPO
Hyundai Motor plans to sell 142 million shares in its Indian unit through an initial public offering, retaining an 82.5% stake afterward. The sale aims to raise approximately $3 billion, valuing Hyundai Motor India at around $20 billion. This mark...
By Reuters | Updated:
Agencies
Hyundai Motor said in a regulatory filing on Tuesday that it will sell 142 million (14.2 crore) shares it holds in Hyundai Motor India for the latter's initial public offering.
The South Korean automaker said it will still hold 670 million (67 crore)shares in Hyundai Motor India, or an 82.5% stake, afterward.
Hyundai Motor said that an indicative range for the IPO pricing has not yet been finalised.
The South Korean company plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters.
This would make it the first carmaker to go public in India in two decades, following market leader Maruti Suzuki's IPO in 2003.
The South Korean automaker said it will still hold 670 million (67 crore)shares in Hyundai Motor India, or an 82.5% stake, afterward.
Hyundai Motor said that an indicative range for the IPO pricing has not yet been finalised.
The South Korean company plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters.
This would make it the first carmaker to go public in India in two decades, following market leader Maruti Suzuki's IPO in 2003.
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