HYUNDAI MOTOR INDIA (HMIL), the country’s second-largest passenger carmaker, is gearing up for an initial public offering (IPO). The Gurugram-headquartered local subsidiary of Korean automaker Hyundai Motor Company (HMC) recently filed a draft red herring prospectus with the market regulator Sebi (Securities and Exchange Board of India) to dilute a part of its promoter stake. Although it has not announced any specific date for its IPO, sources indicate that HMIL, a 100% subsidiary of HMC, might make its market debut as early as 2025.
As per the DRHP, the company’s plan involves an offer for sale (OFS), through which the parent HMC intends to sell 142.2 million of its shares, representing 17.5% of HMIL. The company has not disclosed the expected proceeds from the IPO. However, according to estimates by Nomura, it could fetch the Korean parent a whopping $2.5-3 billion (up to ₹25,000 crore). If successful, the market debut of HMIL will go down as India’s largest IPO. State insurer Life Insurance Corporation of India’s (LIC) ₹21,000-crore public offer in 2022 currently holds the record for the largest IPO in India.
この記事は Business Today India の July 21, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Business Today India の July 21, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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