How will Hyundai IPO affect Maruti Suzuki? – India TV Hindi.

Hyundai Motor India is the second largest car manufacturer in India with a market share of 15% - India TV Paisa
Photo: PIXABAY Hyundai Motor India is the second largest car manufacturer in India with a market share of 15%.

South Korean automobile major Hyundai Motor wants to list its Indian unit, Hyundai Motor India, on the Indian stock exchange. This means that the company is planning to launch its IPO. The company is said to file its regulatory draft IPO papers for approval in May or June, while the issue could be launched by October-November 2024. Hyundai Motor India is the second largest car manufacturer in India with a market share of 15%.

This will be the biggest IPO in India!

According to the news, the company is in the early stages of considering an initial public offering (IPO) in India, which would value its local operations at up to $30 billion. This IPO could be India’s largest IPO. Accelerating plans to list in the world’s third-largest auto market, Hyundai has also hired investment bankers to advise on its at least $3 billion Indian IPO. Hyundai Motor has appointed investment bankers JP Morgan and Citi to advise on the IPO, Livemint reported.

The fundraising by Hyundai will value its Indian operations at more than half the market capitalization of about $47 billion in Seoul. Some domestic Indian investment banks are also likely to be slated for IPOs in the coming months.

Impact of Hyundai Motor IPO on Maruti Suzuki

Hyundai Motor India has sold a total of 6.02 lakh vehicles in the year 2023. This is the company’s highest ever annual domestic sales in India. An increase of 9 percent has been recorded compared to last year. The company’s exports rose 10 percent to 1.63 lakh units as against 1.48 lakh units a year ago. Meanwhile, over the past 12-18 months, India’s largest passenger car maker Maruti Suzuki recorded around 40 bps market share growth in FY24YTD, led by its SUV launches (especially the new Brezza, Grand Vitara and Frontex) caused by Hyundai Motor India is the second largest passenger vehicle (PV) OEM with 14.9% FY24YTD market share valued at $22-28 billion.

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