Hyundai to Launch $3 Billion IPO in India Next Week

The automaker's IPO will be the largest in India this year, marking the first public listing of a carmaker in two decades.

Hyundai Motor India plans to open its IPO for institutional subscriptions on October 14, with retail bidding from October 15-17.
The IPO is priced between 1,865 and 1,960 rupees per share, valuing the company at up to $19 billion.
This offering will see Hyundai's South Korean parent sell 17.5% of its stake in the Indian unit via an offer for sale.
Hyundai's IPO marks the first public listing of an automaker in India since Maruti Suzuki in 2003.
The stock is expected to start trading on the Mumbai exchange on October 22, with Hyundai retaining an 82.5% stake post-IPO.