According to news reports on Sunday, Hyundai Motor India estimates its corporate value at $19 billion and intends to publicly offer 17.5 percent of its total shares to raise $3.3 billion.
If this plan is executed, it would become the largest IPO in the history of the Indian stock market. The current record is held by the Life Insurance Corporation of India, which raised $2.5 billion in 2022.
Hyundai submitted a draft red herring prospectus (DRHP) for listing to the Securities and Exchange Board of India (SEBI) in June.
The company is expected to submit supplementary documents on Monday, with review results likely to be released in mid-October.
The Indian subsidiary was established in 1996.
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