“Hyundai Motor Co. is getting ready for a big move in India. They’ve brought in some big banks like Kotak Mahindra Bank Ltd. and Morgan Stanley to help them with a possible initial public offering (IPO) of their India unit. This could be one of the largest IPOs ever in India.
They already had Citigroup Inc., HSBC Holdings Plc, and JPMorgan Chase & Co. on board as advisers. Reports suggest the IPO could raise around $2.5 billion, making it a significant event for India’s second-biggest carmaker.
Hyundai Motor India Ltd. is planning to apply for the IPO in June, and it’s said that Kotak and Morgan Stanley are joining the team to make it happen. Some sources even say the IPO could bring in as much as $3 billion.
If this IPO hits the mark, it could be as big as Life Insurance Corp. of India’s back in 2022, which raised about $2.5 billion.
While this all sounds promising, nothing is set in stone yet. The banks involved might change, and the exact size and timing of the IPO are still up in the air. But if Hyundai does go ahead with it, they plan to use the money to grow their business in India.
India’s stock market has been doing well lately, with the BSE Sensex stock index reaching record highs. However, there’s been some uncertainty due to national elections. Despite this, Hyundai seems poised to make a big splash in the Indian market.”
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