Hyundai Motor’s India Unit Plans IPO That Would Rival Record
- Automaker to sell 142.2 million shares in India subsidiary
- At least 35% of offering reserved for retail investors
The automaker is seeking to raise about $2.5 billion in the IPO.
Photographer: Anindito Mukherjee/BloombergThis article is for subscribers only.
Hyundai Motor Co.’s Indian unit filed for an initial public offering that is expected to be one of the nation’s largest.
The carmaker will offer 17.5%, or 142.2 million shares, of Hyundai Motor India Ltd., according to a draft red herring prospectus. The unit isn’t selling any new shares in the IPO and the entire proceeds will go to the parent firm.