Hyundai’s $3.3 billion initial public offering (IPO) in India will start from October 15 until October 22.
Hyundai IPO in India is set to start at 1,865 rupees ($22.20) and is estimated to reach up to 1,950 rupees ($23.22). The South Korean automaker plans to sell a 17.5% stake in its subsidiary in India, making its business value $19 billion based on the $23.22 price estimate.
“India is one of the most exciting auto markets in the world. We believe that now is the right time for us to take a step forward to further ‘Indian-ise’ our operations and become a home brand,” said Hyundai Motor India’s Director Unsoo Kim.
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