Hyundai Motor India to file draft papers with SEBI today

Hyundai Motor is set to file an IPO for its India unit with SEBI, aiming to raise ₹25,000 crore by selling 14.2 million shares. Valued between $25-30 billion, this could be India's largest IPO. \r

The funds will expand capacity at existing and newly acquired Talegaon plants, develop and manufacture electric vehicles across segments, establish cell manufacturing to reduce EV costs, and boost exports, strengthening India's role as a global manufacturing hub. Hyundai India's EBITDA for the first nine months of FY24 was ₹6,607 crore, with a profit of ₹4,382 crore. \r

This marks Hyundai's first public listing in India, with banks like Kotak Mahindra, HSBC, Citibank, JP Morgan, and Morgan Stanley managing the IPO.