Hyundai to dilute up to 17.5% stake in USD 3 billion IPO of India unit: Report 

The country's second-largest carmaker will opt for an "offer for sale" route, where no new shares will be issued, but its South Korean parent Hyundai Motor will sell part of stake in the India unit, to retail and other investors, the newswire reported, citing sources. 

Autocar Pro News Desk By Autocar Pro News Desk calendar 14 Jun 2024 Views icon1532 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Hyundai to dilute up to 17.5% stake in USD 3 billion IPO of India unit: Report 

Hyundai Motor is looking to sell a stake of up to 17.5% in its Indian unit as part of an IPO as the company gears up to file regulatory papers, Reuters reported on Friday, citing sources in the know. 

The country's second-largest carmaker will opt for an "offer for sale" route, where no new shares will be issued, but its South Korean parent Hyundai Motor will sell part of its stake in the India unit, to retail and other investors, the newswire reported, citing sources. Reuters could not elicit a response from Hyundai Motor India. 

This listing will be Hyundai's first one outside South Korea, with the company expected to garner proceeds to the tune of USD 2.5 to USD 3 billion in the stake sale, the newswire noted. 

RELATED ARTICLES
CEAT’s Q1FY25 net profit grows 7% YoY despite weak operating performance

auther Autocar Pro News Desk calendar18 Jul 2024

Despite a decline in operating profit, CEAT reported a growth in net profit on account of a one-time gain arising from a...

Tata Technologies partners with Arm for innovation in SDVs 

auther Autocar Pro News Desk calendar18 Jul 2024

As part of this strategic partnership, Tata Technologies will develop a SOAFEE reference architecture stack using the Ar...

LNG as a fuel for heavy commercial vehicles looks brightest, says IOC Director Sujoy Choudhary

auther Autocar Pro News Desk calendar18 Jul 2024

“The major area where we are seeing significant traction is LNG. This is a sunrise area that we are seeing. LNG by road ...