Hyundai Motor India IPO: Kotak, Morgan Stanley likely to be advisors for India’s biggest IPO - Report
Also Read: FPO lock-in expiry: Vodafone Idea share price to gain focus today as anchor investors' 30-day lock-in period endsThe Hyundai Motor India IPO is likely to be purely an OFS (offer for sale) by the parent and slated to be India’s largest IPO, as the South Korean auto major plans to raise between $2.5 billion to $3 billion via the issue, the report added.The IPO is likely to value the Indian arm at around $20 billion and the OFS figure as part of discussions currently is 15% which hasn’t been frozen yet, it said.However, the valuation and IPO size haven’t been finalized which may vary depending on the company strategy and market conditions, the sources told Moneycontrol.Also Read: Upcoming IPOs: Five SME issues and two new listings scheduled for this week; check full list hereAt present, the Life Insurance Corporation of India (LIC) IPO is the largest IPO in India which raised $2.7 billion in May 2022.In FY24, Hyundai Motor India was India’s second largest carmaker after Maruti Suzuki in terms of passenger sales volumes.
The company earned a revenue of ₹60,000 crore with profit of ₹4,653 crore in FY23, the highest amongst the non-listed car manufacturers in the country.Read all IPO news hereMilestone Alert!
Livemint tops charts as the fastest growing news website in the world
