India Launches Record $3.3 Billion IPO

The IPO, marking India's largest ever, opens as Hyundai aims to expand its market presence and production capabilities.

Hyundai Motor India's IPO is the largest in Indian history, surpassing previous records set by Life Insurance Corporation in 2022.
The IPO will see Hyundai's South Korean parent company sell 17.5% of its stake, with no new shares being issued.
Anchor investors, including BlackRock and Fidelity, have already invested heavily, securing over $989 million in shares.
The funds raised are expected to support Hyundai's expansion in India, including potential investments in hybrid and electric vehicles.
Hyundai's shares are set to list on Indian stock exchanges on October 22, with analysts recommending the IPO for long-term investment.