One of the credible sources had reported on May 24 that Hyundai's India unit was anticipated to file draft papers by the end of June, with the company seeking to raise between $2.5 billion and $3 billion. The high-profile deal had previously involved Citi, JP Morgan, and HSBC Securities, according to a Moneycontrol story from February 9.

Hyundai Is Ready For Massive Listing In India

In terms of passenger sales volumes, Hyundai Motor India Limited was the second-largest automaker in India in FY24, after Maruti Suzuki. Over the past six months, competitor Maruti Suzuki India's share price has increased by 24.35%. The market value of the industry leader is around Rs 4,00,000 crore, or $48 billion.

According to Autocar Professional, Hyundai's India division had the most revenue and earnings of any non-listed automaker in the nation at the end of FY23, coming in at Rs 60,000 crore and Rs 4,653 crore, respectively. India is a big market that, in 2023, made for almost 13% of Hyundai's worldwide sales. Some of the automobile models offered by the company in the Indian market include the i20, Verna, Creta, Aura, and Tucson.

In 2023, the India unit broke the six-lakh barrier in domestic sales, setting a new record.  On February 5, another credible source had disclosed Hyundai's plans to list in India. On February 7, Hyundai Motor Company sent a formal statement to the Korean Stock Exchange in response to claims in the media. Although nothing has been verified till date, Hyundai stated that, as a worldwide corporation, it is continuously considering different operations, including listing abroad companies, to boost corporate value.  Euisun Chung, the executive chair of Hyundai Motor Group, visited India last month to assess the company's medium- to long-term mobility plans.