Hyundai IPO: Revving Up India's Auto Market - Everything You Need To Know
Hyundai IPO: Hyundai Motor India has made headlines by securing approval from the Securities and Exchange Board of India (SEBI) for its much-anticipated initial public offering (IPO). The company aims to raise a whopping $3 billion and is eyeing a valuation of $20 billion. This is a significant milestone as it marks the first automobile IPO in India since Maruti Suzuki's launch in 2003.
The South Korean car manufacturer plans to use the funds from the IPO to expand its popular SUV lineup and dive into the electric vehicle (EV) market. Hyundai has committed to investing an additional $4 billion in India over the next decade. This strategy comes as the company looks to regain ground from local competitors like Tata Motors, who have made impressive strides in recent years.
Hyundai's focus on the Indian market is clear. The company plans to launch its first Indian-made electric vehicle by early 2019, along with at least two gasoline models tailored for Indian consumers by 2026. With India ranking third in revenue generation for Hyundai—behind only the U.S. and South Korea—the potential for growth is enormous.
In an exciting twist, food delivery giant Swiggy, backed by SoftBank, has also received SEBI approval for its IPO, aiming to raise between $1 billion and $1.2 billion with a target valuation of $15 billion. This surge in IPOs highlights a vibrant market and offers new investment opportunities for stakeholders.
