Biggest IPO In India? Forget Tata Sons, This Auto Giant Mulls Rs 25,000 Crore Offer, May File Draft With SEBI

The biggest-ever IPO of the Indian market is coming soon. And no this is not related to Tata Sons who was in the headlines in the early 2024s for its upcoming biggest-ever IPO. This time the buzz is that South Korean-based automobile giant Hyundai Motor Company is mulling to launch its public offer and is likely to file draft papers with market regulator Sebi on June 14.

Officials have not confirmed the development and GoodReturns.I could not confirm the same. However, reports have circulated stating that Hyundai may file for IPO papers on Friday with the market watchdog.

As per the reports, Hyundai may offload up to 14.2 million shares through the secondary offer. While the company is reportedly looking to raise to Rs 25,000 crore.

If that may be the case, a Rs 25,000 crore IPO will make Hyundai the biggest-ever listing and public offer in the Indian market.

Reports have stated that bankers for the IPO included lead domestic and international banks such as Kotak Mahindra Bank, Citibank, HSBC, JP Morgan, and Morgan Stanley.

This would also become Hyundai's first public listing outside the South Korean market.

As of now, in the Indian market, the biggest IPO title is held by the country's largest life insurer LIC India which launched its nearly Rs 21,000 crore public offer in 2022. Other biggest IPO in the primary market also include the Rs 18,000 crore issue by fintech giant Paytm and the Rs 15,200 crore issue by the Maharatna PSU mining giant Coal India.