Shardul Amarchand Mangaldas & Co. advised Hyundai Motor India Limited and its Korean parent, Hyundai Motor Company, on this initial public offering aggregating to approx. USD 3.3 billion.
The IPO is the largest ever in India and the second largest globally this year. The equity shares were listed on the Bombay Stock Exchange of India Limited and National Stock Exchange of India Limited on 22 October, 2024.
This transaction, Hyundai’s first listing of a unit outside of South Korea, reflects the automaker’s vision for the future as it continues to drive innovation and boost market share in one of the fastest-growing auto markets worldwide.
The transaction team was led by Prashant Gupta – National Practice Head – Capital Markets; Nikhil Naredi, Partner; Priya Awasthi, Partner; Jheel Bhargava, Associate; and Veronica Miranda, Associate. Special thanks to Aditi Verma, Principal Associate for her support.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited were the Book Running Lead Managers on the transaction.
The Firm has now advised on the four largest IPOs in India until date, which include IPOs by One97 Communications Limited (Paytm), Life Insurance Corporation of India and Coal India Limited, as issuer or underwriters counsel.
The historic IPO has set off a new era and intends to inspire other multinational corporations listing its Indian subsidiaries.
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