Hyundai Motor India files draft IPO papers with SEBI for record Rs 25,000 crore offer, surpassing LIC, the largest yet

Hyundai Motor India, the Indian subsidiary of South Korean automaker Hyundai and the second-largest car manufacturer by sales, has filed draft IPO papers with SEBI to raise approximately $3 billion (Rs 25,000 crore) through an offer for sale (OFS) of 142,194,700 equity shares. If successful, this could mark India's largest IPO, surpassing even LIC’s Rs 21,000 crore offering. The funds raised will solely support expansion plans, as Hyundai Motor India will not issue any fresh shares. This IPO is significant as the first automotive sector IPO in over two decades, aiming to enhance visibility, brand image, and provide liquidity.