New Delhi: The Securities and Exchange Board of India (SEBI) has approved two major companies, Hyundai Motors and food delivery giant Swiggy, for their initial public offerings (IPOs). Hyundai is gearing up to launch the biggest IPO in India’s history, valued at a whopping Rs 25,000 crore. This massive IPO is expected to hit the market as early as October, making it the largest since the LIC IPO of 2022.
Hyundai’s Record-Breaking IPO
Hyundai Motors India is all set to create a buzz with its upcoming Rs 25,000 crore IPO. As per the current information, Hyundai’s IPO will be carried out as an Offer for Sale (OFS), meaning that the shares sold will come from Hyundai’s parent company in South Korea. No fresh shares will be issued by Hyundai India itself. The company plans to sell around 17% of its equity through this IPO.
Once the IPO is completed, Hyundai’s market valuation is expected to reach around $18 billion, or roughly Rs 1.5 lakh crore. While this figure is impressive, it places Hyundai behind some of the industry giants like Maruti Suzuki, which has a market cap of Rs 4 lakh crore, Mahindra & Mahindra (M&M) at Rs 3.8 lakh crore, and Tata Motors at Rs 3.6 lakh crore.
Hyundai’s Investment and Expansion Plans in India
Hyundai Motors has ambitious plans for India, with a substantial investment of Rs 32,000 crore. The company acquired a factory in Maharashtra from General Motors last year, and part of this investment will be used to operate this plant. Hyundai’s production goals in India are equally significant, with plans to scale up their annual production to 10 lakh vehicles by 2025, strengthening their position in the Indian automotive market.
Swiggy’s IPO Receives Approval
In addition to Hyundai, food delivery giant Swiggy has also received SEBI’s green light for its Rs 11,700 crore IPO. This Bengaluru-based company, known for revolutionizing food delivery in India, is preparing for what will be the fifth-largest IPO in the country’s history.
Swiggy’s major shareholders, including Prosus and SoftBank, who hold significant stakes in the company, are expected to sell part of their shares through this IPO. Swiggy had filed its draft papers for the IPO in April 2023, and its much-anticipated launch is expected soon.
Top IPOs in India
With Hyundai and Swiggy entering the market, the list of India’s biggest IPOs is becoming more impressive. Here’s a quick look at some of the largest IPOs:
- Hyundai (2024) – Rs 25,000 crore
- LIC (2022) – Rs 21,008 crore
- Paytm (2021) – Rs 18,300 crore
- Coal India (2010) – Rs 15,199 crore
- Swiggy (2024) – Rs 11,700 crore
As Hyundai and Swiggy prepare to make their market debut, investors will be closely watching these highly anticipated IPOs, which are expected to make a significant impact on the Indian stock market.
