Auto major Hyundai Motor India (HMIL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in which the company will sell around 142.2 million shares (of the total 812 million shares) at a face value of ₹10 each.
Hyundai is expected to raise at least $3 billion (around ₹25,000 crore) through the IPO.
Market analysts maintain, it will be the largest in India, surpassing LIC’s share sale of ₹21,000 crore.
Advisors for the share sale include Citigroup, Kotak Mahindra Bank, JP Morgan, HSBC and Morgan Stanley. Those interested to buy the share should contact these banks and financial institutions for further details.
According to analysts, Hyundai is opting for an IPO to capitalise on the growing market potential in India which will also showcase the confidence of global automobile manufacturers in the Indian automotive market.
