South Korean auto major Hyundai Motor Company has been in the news, following a media report on its plans to list its India entity on stock exchange.
Media reports indicate that it is expected that Hyundai will list its India business by Diwali. As per the buzz, the India business is potentially valued at $22-28 billion (Rs 183,282 crore to Rs 233,268 crore) and the IPO is part of the company’s ‘Value Up’ programme.
If the company goes public at this valuation, it will make it the biggest IPO surpassing LIC’s issue size of Rs 21,000 crore.
Financial Express Online reached out to Hyundai but it declined to comment on the media reports.
