Hyundai Motor India likely to launch Rs 25,000 crore IPO on Oct 14

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Hyundai Motor India likely to launch Rs 25,000 crore IPO on Oct 14 - Business Standard

Quick Summary:

Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited Rs 25,000-crore initial share-sale for public subscription on October 14, people familiar with the development said on Thursday.

According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India's proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component.

Sources had previously stated that the South Korean automaker is looking to raise at least USD 3 billion (about Rs 25,000 crore) through an initial share sale.