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IONIQ 5 (Photo provided by Hyundai Motor Group) |
[Alpha Biz= Reporter Kim Jisun] The IPO of Hyundai Motor's India unit is nearing, with an expected listing date of the 22nd. The company's value is estimated to be around 25 trillion won.
On October 10, Hyundai announced that it had set the price range for its India unit's IPO at 1,865 to 1,960 rupees (about 29,970 to 31,480 won), following approval from the Securities and Exchange Board of India (SEBI). Hyundai had earlier decided to sell 17.5% (142.19 million shares) of its 812.54 million shares in the India unit through a secondary offering.
The total IPO amount is expected to be between 4.17 trillion and 4.39 trillion won, which would make it the largest IPO in Indian stock market history. The previous record was set in 2022 by Life Insurance Corporation of India, which raised 25 billion dollars (about 3.36 trillion won). Based on the IPO price range, Hyundai's India unit is valued at approximately 25 to 26 trillion won.
The final offering price will be determined after the subscription process, with institutional investors bidding on October 14, followed by general subscription from October 15 to 17. The final price will be set before the listing on the Indian stock exchange, expected on the 22nd.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
