Hyundai mulls $3 billion India IPO at $25-30 billion valuation -sources

MUMBAI: South Korea's Hyundai Motor is exploring an initial public offering (IPO) for its Indian unit to elevate no longer no longer up to US$3 billion, two sources conversant in the subject acknowledged on Monday (Feb 5).

Hyundai Motor India is additionally in early stage talks for an IPO later this twelve months that might perhaps well price the company at US$25 billion-US$30 billion, the sources acknowledged.

While Hyundai's belief for an IPO later this twelve months is no longer finalised, it'll doubtlessly be the nation's supreme stock market offering, the sources acknowledged.

The corporate is exploring "price unlocking for its India alternate" during the IPO, the two sources acknowledged.

A spokesperson at Hyundai's India unit declined to commentary.

Hyundai, India's second-supreme carmaker by gross sales, has acknowledged it plans to speculate US$2.forty five billion within the nation for its electrification push with plans to begin new EVs, charging stations and a battery pack meeting unit.

The carmaker, which entered India more than two decades within the past, has 15 per cent half of the Indian automobile market and competes with Maruti Suzuki and native rival Tata Motors

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