Hyundai Motor India Files for Historic IPO with SEBI, Plans to Sell 14.2 Crore Shares
This IPO will mark the first time in nearly two decades that a car manufacturer goes public in India, following Maruti Suzuki's IPO in 2003.
Newsbreak Confirmed: Hyundai Motor has officially filed for an Initial Public Offering (IPO) with the Securities and Exchange Board of India (SEBI), a move that is poised to make history in the Indian automotive sector.
In the Draft Red Herring Prospectus (DRHP) filed with SEBI, Hyundai Motor India plans to sell 14.2 crore shares through an Offer for Sale (OFS). This sale will be executed by Hyundai's parent company in South Korea, which will reduce its stake in the wholly-owned Indian unit. Notably, no new shares will be issued in this offering.
Potential Record-Breaking IPO
According to Reuters, this IPO could potentially become the largest in India's history. Hyundai Motor India is the country's second-largest car manufacturer, trailing only Maruti Suzuki. The DRHP highlights 81 risk factors associated with the IPO.
Key Highlights of Hyundai Motor India:
- Market Position: Hyundai Motor Company has been the second-largest Original Equipment Manufacturer (OEM) in India since FY2009.
- Product Portfolio: The company offers 13 passenger vehicle models across various powertrains.
- Sales and Service Network: Hyundai boasts 1,366 sales outlets across 1,031 cities and 1,550 service centres nationwide.
- Production Capacity: The Chennai plant currently produces 8.2 lakh units annually, with an expected increase to 9.94 lakh units per annum by FY2026 when the Talegaon plant becomes operational.
- R&D Investment: Hyundai is committed to investing in research and development in India to drive innovation and maintain its competitive edge.
Strategic Focus
Hyundai aims to enhance its SUV sales, particularly in the mid to high-range passenger vehicle (PV) segment. SUVs currently represent 53% of the company’s total domestic sales. Additionally, Hyundai plans to localize its electric vehicle (EV) supply chain through collaborations with both local and global vendors.
This IPO represents a significant milestone for Hyundai Motor India and underscores the company's robust market position and strategic vision for future growth in the Indian automotive landscape.
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