Hyundai Motor India's Blockbuster IPO: A Historic Share Sale
Hyundai Motor India's $3.3 billion IPO, the largest auto share sale in India in 20 years, was 18% subscribed on the first day, driven by employee participation. The IPO, a milestone listing outside South Korea, targets a $19 billion valuation amidst growing Indian market interest in equity offerings.

Hyundai Motor India initiated its historic $3.3 billion IPO, marking the country's largest automotive share sale in two decades. On the first day, 18% of the shares were subscribed, primarily fueled by employees, who claimed four-fifths of the designated shares. The IPO window will conclude on Thursday.
This share sale signifies Hyundai's inaugural public offering outside its home turf of South Korea, coinciding with a surge in Indian equities market activity. As companies rush to board this thriving IPO wave, data from LSEG shows over 260 firms have collectively raised more than $9 billion this year.
With analysts eagerly watching, Hyundai India aims to achieve a market valuation of $19 billion, ranking this event as the world's second-largest IPO in 2023, behind Lineage Inc's $5.1 billion U.S. launch in July.
(With inputs from agencies.)
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