Hyundai India's $3 billion IPO gets SEBI nod
The Securities and Exchange Board of India (SEBI) has given approval to Hyundai Motor India's initial public offering (IPO). This significant development marks a milestone for the South Korean automaker, as it aims to raise $3 billion at an approximate valuation of $20 billion. Hyundai's IPO will be a historic event in India's automotive industry, marking the first time a carmaker will have gone public in the country in two decades.
Maruti Suzuki went public back in 2003
The last time an automaker went public in India, was when market leader Maruti Suzuki launched its IPO back in 2003. This move by Hyundai underscores its ambitious growth plans, and determination to strengthen its position within the Indian market.
Strategy to regain market share
Hyundai is devising strategies to regain its market share from formidable domestic competitors like Tata Motors. The company plans to expand its SUV lineup, and launch its first India-manufactured electric vehicle (EV) in early 2025. Additionally, it intends to roll out at least two petrol-powered models specifically designed for the Indian market starting in 2026.
Hyundai's significant investments in India
India is a crucial market for Hyundai, ranking third in global revenue generation after the US and South Korea. The company has already invested $5 billion in India, and has committed to infuse an additional $4 billion over the next decade. This substantial financial commitment underscores Hyundai's long-term growth strategy, and confidence in the Indian market.
