Key Points
In what could be India's biggest-ever IPO, South Korea's Hyundai Motor is looking to offload up to17.5 percent stake in its initial public offering (IPO) of its India unit, according to draft papers filed with the Securities and Exchange Board of India (SEBI) on June 15..
Hyundai Motor will offer up to 142 million shares for sale in the IPO from a total of 812 million, according to the filing with the Securities and Exchange Board of India (SEBI), Reuters reported...
Hyundai will not issue new shares in the IPO, which will involve its South Korean parent selling part of its stake in the wholly-owned unit to retail and other investors via a so-called "offer for sale" route, it added...
This IPO would be the first by an automaker in India in over 20 years since Maruti Suzuki went public in 2003.Hyundai is the country's second-biggest carmaker after Maruti Suzuki India...
In April this year, Hyundai Motor India announced plans to introduce five new electric vehicles (EVs) by 2030 bringing forward its locally tailored plans for the sector by two years..
