Hyundai Motor Co plans a $3B IPO to sell 17.5% stake, aiming to grow India as a global manufacturing hub.
Hyundai Motor Co aims to transform India into a global manufacturing hub, anticipating significant market growth, according to Managing Director Unsoo Kim. The company is set to launch India's largest IPO, opening for subscription on October 15, with a price range of Rs 1,865-1,960 per share. The IPO will enable Hyundai's parent company to sell a 17.5% stake in its Indian entity for approximately $3 billion, valuing it at $19 billion.
October 09, 2024
120 Articles