Hyundai Motor India IPO Launch

(Reuters) – Hyundai Motor India will launch its IPO next week, marking parent Hyundai's first listing outside South Korea and India's first carmaker IPO since 2003.

The $3 billion IPO will offer shares at a price range of 1,865 rupees to 1,960 rupees ($22 to $23) per share, valuing Hyundai's Indian unit at up to $19 billion.

Facts on Hyundai's India Operations

• Establishment: Hyundai set up its India operations in 1996, starting off with the Santro hatchback, once its most sold car.
• Market Position: Hyundai holds India's no.2 carmaker spot, coming in behind Maruti Suzuki, with a roughly 15% share in the competitive car market. It sold 614,721 cars and exported 163,155 units in the year to March 2024.
• Manufacturing: The company operates a factory outside Chennai in Tamil Nadu, with a capacity of 824,000 units per year and a 94% utilization rate, leaving little room for growth.
• Production Aspirations: Hyundai aims to reach production of about 1 million units a year by acquiring a former General Motors plant in Maharashtra, expected to start operations by March 2026.
• Dealerships: Hyundai has 1,377 dealers across India.
• Models: In India, the carmaker sells 13 models, with 'Creta' and 'Venue' SUVs, and 'Grand i10 Nios' hatchback among its bestsellers.
• Export Hub: Hyundai's current factory also serves as a key export hub, manufacturing cars shipped to South Africa, the Middle East, and Latin America.