Hyundai Motor India, a leading automaker in India, is gearing up for an initial public offering (IPO) to raise USD 3 billion at a valuation of approximately USD 20 billion. The company has received approval from the Securities and Exchange Board of India (SEBI) for the IPO, which would be the first by a carmaker in India in two decades.
Hyundai India aims to use the funds raised through the IPO to strengthen its market position and compete more effectively against domestic rivals like Tata Motors. The company is also focusing on expanding its product lineup, with plans to launch its first India-made electric vehicle next year and introduce at least two new gasoline-powered models tailored for the Indian market.
India is a key market for Hyundai, generating the third-highest revenue globally for the automaker. The company has already invested USD 5 billion in India and plans to invest an additional USD 4 billion over the next decade.
