Hyundai Motor India Prepares for Historic Stock Market Debut After Record IPO
Hyundai Motor India's Groundbreaking IPO
Hyundai Motor India is poised to make waves in the Indian stock market with its record initial public offering (IPO) this week.
The $3.3 billion IPO subscription process has paved the way for shares to start trading on Tuesday, establishing Hyundai's first listing outside South Korea.
Significance of the IPO
- This IPO surpasses the Life Insurance Corporation of India's previous record in 2022.
- The fixed IPO price band is set at Rs 1,865-Rs 1,960 per share.
- All proceeds from the IPO will go to the promoter as a pure offer for sale (OFS).
Hyundai's Strategic Moves in India
As the second-largest carmaker in India, Hyundai has ramped up its operations, producing 765,000 vehicles last year. The company’s strategic investments, including the acquisition of General Motors' Pune plant, signal its intent to heighten local competitiveness.
- Hyundai plans to upgrade the Pune plant, increasing production capacity to over 200,000 units annually.
- The company aims to enhance its EV infrastructure by expanding charging stations across India.
- Five new electric vehicle models are slated for introduction by 2030.
This historic IPO not only marks a significant milestone for Hyundai but also highlights the electrification journey in the Indian automotive sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.