Hyundai Motor India is reportedly planning to launch an IPO round Diwali. It might turn out to be the largest-ever preliminary public providing, surpassing the LIC concern dimension.

According to media reviews, high international funding banks are vying for a possible Hyundai India IPO. It is alleged that representatives from Goldman Sachs, Citi, Morgan Stanley, JP Morgan, Bank of America, HSBC, Deutsche Bank and USB, just lately made IPO pitches to the management of Hyundai in Seoul.

Hyundai Motor India was included in 1996. It turned the second-largest carmaker in India final yr. The firm is estimated to be valued at $22-28 billion and is exploring a 15-20% dilution to lift $3.3-5.6 billion. If priced on the higher band of $28 billion, Hyundai India’s valuation will exceed that of Mahindra & Mahindra, Adani Power and Bajaj Auto.

There has been no official phrase from Hyundai but. The firm has neither denied nor confirmed these reviews.

Source: Economic Times