The country's biggest IPO is coming, this auto company will raise Rs 25,000 crore

New Delhi: All the old records are going to be broken in the IPO market. Actually, Hyundai Motors India is bringing the country's largest IPO. According to the information received, Draft Red Herring Prospectus (DRHP) has been submitted to SEBI on Saturday by Hyundai Motors India Limited to bring an IPO of Rs 25000 crore (about $ 3 billion). This will be the biggest IPO till date. Earlier this record was in the name of LIC. LIC has launched an IPO to raise $ 2.7 billion in the year 2022. Hyundai's IPO will prove to be a milestone for the Indian industry. Hyundai will be the first automaker to launch an initial share sale since Maruti Suzuki was listed in 2003. This week, electric two-wheeler company Ola Electric has received SEBI approval for its IPO. HMIL started operations in India in 1996 and currently sells 13 models.

Shares will be sold by promoters
The information given in the DRHP states that under this IPO, the company will sell 14,21,94,700 shares with a face value of Rs 10 under the Offer for Sale. Shares will be sold on behalf of the promoters of the company in this OFS. The company further said that through the IPO, the company wants to list the equity shares on the exchange and take advantage of the listing. We hope that the listing of equity shares will increase visibility and brand image.

If Hyundai Motors' IPO gets SEBI's approval, it will be the largest IPO ever. Currently, the $2.7 billion IPO launched by Life Insurance Corporation of India (LIC) in 2022 is the largest IPO ever. Kotak Mahindra, Citi Bank, Morgan Stanley, JP Morgan and HSBC have been appointed as global investment banks by Hyundai Motors for its entry into the stock market.

The country's second largest auto company after Maruti
Hyundai Motors India's sales grew 7 percent year-on-year to 63,551 units in May. Hyundai Motors is the country's largest company after Maruti Suzuki in terms of passenger vehicle sales. The company set up its first manufacturing plant in India in 1998, while the second started in 2008. Last year, Hyundai Motors Group announced an investment of about $ 3.75 billion in India.