India Today Updates

Hyundai’s Drive for an IPO: Report Says Automaker Expects To Raise $3 Billion

<p>Hyundai, the massive South Korean automaker, is reportedly thinking about doing an IPO later this year in order to earn at least $3 billion (about Rs 25,000 crore).</p>
<p><img decoding=”async” class=”alignnone wp-image-387168″ src=”” alt=” hyundais drive for an ipo report says automaker expects to raise 3 billion hyundai” width=”1079″ height=”719″ title=”Hyundai's Drive for an IPO: Report Says Automaker Expects To Raise $3 Billion 3″ srcset=” 510w,×100.jpg 150w” sizes=”(max-width: 1079px) 100vw, 1079px” /></p>
<p>According to reports cited by news agency PTI, Hyundai Motor India Ltd. (HMIL) is expected to dilute 15-20% of its ownership in order to obtain money in the region of USD 3.3–5.6 billion.</p>
<p>Should the firm proceed with its initial public offering (IPO), it would surpass LIC’s Rs 21,000 crore share sale to become the biggest in India. The company is now the country’s second-largest automaker, after Maruti Suzuki India.</p>
<p>The business refused to respond when asked about the matter.</p>
<p>Since starting business in India in 1996, HMIL has sold 13 different models in various market sectors.</p>
<p>Its nationwide network consists of 1,549 service locations and 1,366 sales locations.</p>

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