February 5, 2024Anmol Nagpal

Hyundai India likely to make stock market debut this Diwali

Nearly three decades after Hyundai made its India debut, the South Korean auto company is reportedly mulling to list in the country.

Source: Hyundai

The IPO could be India's largest if it goes through, according to a media report. LIC holds the record for the largest IPO with an issue size of ₹21,000 crore.

Source: Hyundai

Most IPO debuts so far this year have been on exchanges in Asia Pacific, with India’s equity market hosting more listings than other regional peers.

Source: Freepik

Several investment banks were in Seoul last week to firm up the listing plan for India's second-largest passenger vehicle seller, after Maruti Suzuki, said media reports.

Source: Hyundai

Bankers reportedly valued the company at $22-28 billion. Hyundai Motor Co, which is listed in South Korea with a market cap of $39 billion, is eyeing a Diwali listing.

Source: Hyundai Motor India Ltd

The India listing would be reportedly part of South Korea's 'value-up' programme.

Source: Hyundai

Hyundai set a 4 per cent to 5 per cent growth target for sales for 2024.

Source: Hyundai

It plans total investment this year of 12.4 trillion won, including 5.6 trillion won in capital expenditure and 4.9 trillion won for research and development.

Source: Hyundai