Hyundai Gears Up for India’s Biggest Car IPO in 20 Years—SEBI Gives Green Light for $3 Billion Launch

Hyundai Motor India has received approval from SEBI for its upcoming IPO, aiming to raise $3 billion and valuing the company at around $20 billion, according to insiders. This will be India’s first car manufacturer IPO in 20 years, the last being Maruti Suzuki in 2003.

Hyundai is working to regain market share from local rivals like Tata Motors by expanding its SUV lineup. The company also plans to launch its first locally-made electric vehicle next year, along with two more gasoline-powered models by 2026.

India is Hyundai’s third-largest market globally, behind the U.S. and South Korea. The automaker has invested $5 billion in India and plans to invest another $4 billion over the next decade.

Other Big IPOs to Watch:

• Swiggy: SEBI has also approved Swiggy’s IPO, with the food delivery giant aiming for a $15 billion valuation and looking to raise between $1 billion and $1.2 billion.
• NTPC Green Energy Ltd.: NTPC’s green energy arm plans to raise up to ₹100 billion ($1.2 billion) through an IPO to fund growth and repay loans.

India’s IPO market is booming, with proceeds hitting $8.8 billion in 2024, surpassing the previous two years. With a fast-growing economy, India is becoming a prime choice for investors amid global market challenges.