afaqs! news bureau

Hyundai Motor India to go public: ET report

If successful, it will be the first automaker IPO since Maruti Suzuki in 2003.

Hyundai Motor India is set to go public in India, it is likely to file a draft red herring prospectus (DRHP) with market regulator SEBI over the next two weeks, initiating the process for an initial public offering reports ET.

If successful, the South Korean automaker’s India unit will become the first IPO from an automaker in two decades following the share listing of Maruti Suzuki in 2003.

The report states SEBI is expected to give its approval within 60-90 days after the DRHP filing, Hyundai Motor India's IPO could potentially hit the market in September or October.

The company has hired investment bankers - Citibank, Morgan Stanley, Kotak Mahindra, HSBC, and JPMorgan to manage the IPO.

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