Hyundai Motor India Limited (HMIL), a subsidiary of the South Korean automotive giant Hyundai Motor Group, has successfully completed its listing on the Indian stock market. The initial public offering (IPO), held on October 22 at the Bombay Stock Exchange in Mumbai, raised 4.5 trillion won, making it the largest IPO in India’s stock market history.
The listing ceremony attracted around 250 attendees, including key figures such as Hyundai Motor Group Chairman Chung Eui-sun, Hyundai Motor President Jang Jae-hoon, Vice President of India and Middle East Operations Kim Eun-soo, and India COO Tarun Garg. Priced at 1,960 rupees per share (approximately 32,000 won), the IPO saw strong demand, with subscriptions oversubscribed by 2.39 times.
The funds raised from the IPO will be directed toward research and development (R&D) initiatives and the advancement of new technologies for Hyundai’s operations in India. Hyundai Motor has plans to transform India into a strategic export hub for emerging markets in regions like the Middle East, Africa, and South Asia.
Chung Eui-sun, Chairman of Hyundai Motor Group, highlighted India’s crucial role in the company’s future growth. “We have known that India is the future, which is why we have continuously increased our investment and expanded our R&D capabilities here. Our efforts to become a pioneer in future technologies will continue here in India,” he said during the ceremony.
In line with its strategic goals, Hyundai plans to enhance its R&D capabilities in India and establish electric vehicle infrastructure across the country. The company’s technology research centers in Hyderabad, India, and Namyang, South Korea, will work closely to drive innovation and future mobility solutions.
This landmark IPO not only boosts Hyundai’s financial strength but also reinforces its commitment to expanding its footprint in emerging markets while maintaining competitiveness in the global automotive industry.