Monday, February 26, 2024

Hyundai India IPO: Hyundai preparing to be listed in the market, will LIC’s record be broken?

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Hyundai India to Bring IPO: There is going to be a lot of action in the primary market this year. Vehicle manufacturing company Hyundai Motor India Ltd. is preparing to launch its IPO at the end of the year. The news agency has given this news quoting sources. Through this IPO, auto company Hyundai Motor is planning to raise $300 crore i.e. about Rs 25,000 crore from the market. Hyundai Motor India Limited (HMIL) can sell 15-20 percent of its shares through this IPO.

Will be the country’s biggest IPO

If the company goes ahead for IPO, it could be the biggest IPO in the country. Before this, Life Insurance Corporation (Lic IPO) had brought its IPO of Rs 21,000 crore in May 2022. The size of Hyundai Motor’s IPO is reported to be Rs 25,000 crore. That means, if the company moves ahead with this plan, it will become India’s biggest IPO. Hyundai Motor India Limited started operations in India in 1996 and currently sells 13 models in different segments. The company is the second largest car manufacturer in the country after Maruti Suzuki India. It has 1366 sales centers and 1549 services centers across the country.

Hyundai Motor Sales Data

Hyundai Motor India’s wholesale vehicle sales in January stood at 67,615 units, an increase of 8.5 percent on an annual basis. Hyundai’s domestic sales increased by 14 percent year-on-year to 57,115 units as against 50,106 units in the same month last year. Exports of Hyundai vehicles declined by 14 percent to 10,500 units in January, which was 12,170 units in January last year. Tarun Garg, Chief Operating Officer (COO), Hyundai Motor India, said in a statement that this strong growth has been driven by the overwhelming customer response to the recently launched Hyundai Creta. The new model of Hyundai Creta has received around 50,000 bookings in the first month.

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