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.
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.
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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