Hyundai India starts $3.3 billion IPO in country's largest ever share sale

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Hyundai India starts $3.3 billion IPO in country's largest ever share sale - Business Standard

Quick Summary:

Hyundai will not issue new shares in the IPO, in which its South Korean parent will sell up to 17.

The IPO shows that India's red hot capital markets show no sign of cooling, with 260 companies having raised more than $9 billion so far in 2024, according to LSEG data.

Analysts said Hyundai Motor is likely to expand its production in India, potentially including hybrids and electric vehicles.