Hyundai unit files for India IPO that could be country’s biggest
NEW DELHI :South Korea’s Hyundai Motor is asking to sell a stake of as a lot as 17.5 per cent in the preliminary public offering of its India unit, draft papers filed with the country’s markets regulator confirmed on Saturday, in what might maybe well maybe maybe very properly be India’s biggest ever IPO.
Hyundai Motor will provide as a lot as 142 million shares obtainable on the market in the IPO from a entire of 812 million, essentially essentially based on the filing with the Securities and Alternate Board of India (SEBI).
Commercial
India’s 2d-biggest automobile maker boring Maruti Suzuki, Hyundai will no longer scenario new shares in the IPO that might maybe well maybe maybe have its South Korean dad or mum promoting phase of its stake in the wholly owned unit to retail and varied investors through a so-called “provide obtainable on the market” route.
Hyundai Motor India might maybe well be the country’s first automobile maker to switch public in two decades since Maruti Suzuki in 2003.
Source: Reuters
