SEBI approves Hyundai India's IPO, potentially the largest in Indian market history, offering 14.2 crore shares.

The Indian arm of South Korean automaker Hyundai is expected to file RHP this week and the issue is likely to be launched soon.

Demand for IPOs has been high throughout 2024, and Hyundais IPO is one of the most awaited. Chances are that Hyundai would be competing against Swiggy and NTPC Green Energy IPO. However, these are only speculations.

On offer in the Hyundai India IPO are 14.2 crore shares, equivalent to 17.5% stake, of face value Rs 10 each, according to the draft red-herring prospectus filed with the markets regulator in June this year. The South Korean carmaker will not issue new shares in the IPO.

Several companies like Hyundai Motor India, Swiggy, and NTPC Green Energy plan to launch IPOs in the next two months to raise about Rs 60,000 crore. This surge is driven by favorable macroeconomic conditions and sector-specific factors.