It is going to rain money on Diwali. Yes, the country’s second largest car company Hyundai Motors is coming with its IPO in the stock market. Whose size is likely to be more than Rs 46 thousand crore. According to the report of ET, Hyundai Motor India (HMIL), the Indian branch of South Korean company Hyundai Motor Company, is going to launch its IPO in the Indian stock markets around Diwali in November this year. There has been no official statement from the company yet. Hyundai Motor India was established on 6 May 1996. This means that the company will be listed in the stock market after 28 years. Last year, HMIL was India’s second largest passenger vehicle company after Maruti Suzuki India.
How big will the IPO be?
The world’s top investment banks are competing for a potential Hyundai India IPO. Representatives from Goldman Sachs, Citi, Morgan Stanley, JPMorgan, Bank of America, HSBC, Deutsche Bank and UBS presented their expertise to Hyundai in Seoul last week. Bankers value the company at $22-28 billion, with a potential market cap of Rs 1.82-2.32 lakh crore. Hyundai is reportedly exploring a 15-20 per cent dilution with a target of raising Rs 3.3-5.6 billion (Rs 27,390 crore to Rs 46,480 crore), ET reported. Earlier, LIC’s IPO was worth Rs 21 thousand crores. Which is the biggest IPO till date. If Hyundai’s IPO comes, it will be more than twice the size of LIC.
Tata Motors is the biggest company
If we talk about valuation, at present Maruti Suzuki is the largest auto company in the country with a valuation of Rs 3,32,909.88 crore. Whereas the valuation of Tata Motors is Rs 3,12,497.16 crore. If Hyundai gets listed in the market, then the valuation of Hyundai will become Rs 2.32 lakh crore. At present the valuation of Mahindra & Mahindra is more than Rs 2.12 lakh crore. Only time will tell what the valuation of Mahindra & Mahindra will be in the month of November.
How is the stock market?
If we talk about the stock market, at present a rise of 161 points is being seen. Sensex is trading beyond 72 thousand points. According to BSE data, Sensex is trading at 72,247.16 points at 11.25 am. Reached a high of 72,385.93 points. On the other hand, the main index of National Stock Exchange Nifty is trading at 21,912 points with a gain of 58.20 points. UPL shares are falling by more than 8 percent in NSE. Bharti Airtel shares are trading with a decline of 3 percent.