Hyundai Motor s planned USD 3 billion IPO in India aims to achieve two objectives: expand in a rapidly growing market and address the "Korea discount" that affects its valuation back home. As India s second-largest carmaker, Hyundai seeks to leverage its popularity in India and reduce reliance on its parent company for funds.
Hyundai IPO In India: Hyundai, the second-biggest automaker in India with a 15% market share, is in the initial stages of considering an IPO in India that would value its local operation at up to USD 30 billion, Reuters reported this week. The IPO could be India s largest. Such a fundraising by Hyundai would put the valuation of its Indian operation at more than half its market capitalisation of around USD 47 billion in Seoul.