Hyundai Motor’s Indian business filed draft papers on Saturday for what could be one of India’s biggest initial public offerings (IPOs), which the South Korean automaker said was aimed at increasing its brand image and providing liquidity in the country.
Reports suggest that the company aims to raise between $2.5 billion and $3 billion, approximately ₹25,000 crore at the higher end of the estimate. If successful, this IPO will surpass the current record held by Life Insurance Corporation (LIC) of India, which raised around $2.45 billion. Here are some of India’s largest IPOs:
Life Insurance Corporation (LIC) Date Listed: May 17, 2022, Amount Raised: $2.45 billion; Details: LIC holds the current record for the largest IPO in India, successfully raising funds to the tune of $2.45 billion.
PayTm (One 97 Communications) Date Listed: November 18, 2021; Amount Raised: $2.19 billion; Details: PayTm’s parent company, One 97 Communications, raised $2.19 billion.
Coal India Date Listed: November 4, 2010; Amount Raised: Over $1.8 billion; Details: Coal India, a government entity, successfully garnered over $1.8 billion through its IPO.
General Insurance Corporation of India; Date Listed: October 25, 2017; Amount Raised: $1.35 billion Details: The insurance giant raised $1.35 billion from its IPO.
SBI Cards and Payment Services; Date Listed: March 16, 2020; Amount Raised: $1.24 billion; Details: The credit card service provider raised $1.24 billion through its IPO.
Other notable IPOs include NMDC and New India Assurance, although their fundraises were below ₹10,000 crore.
Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
