“The objective of the Offer is to complete the Offer for Sale of 142,194,700 (over 142 million) Equity Shares of face value of Rs 10 each by the Promoter Selling Shareholder and avail the benefits of listing the Equity Shares. Stock Exchange,” as per DRHP.

Furthermore, "Our company expects that the listing of equity shares will enhance our visibility and brand image and provide liquidity and public market for equity shares in India," said DRHP of Hyundai Motor India.

If the listing gets approval from the regulator, it will be the country's largest IPO (a net offer for sale by a promoter) after the $2.7 billion listing of state-owned Life Insurance Corporation of India (LIC) in 2022.

The automaker has roped in global investment banks like Kotak Mahindra, Citibank, Morgan Stanley, JP Morgan and HSBC for its public market entry.

In May, Hyundai Motor India reported seven percent year-on-year (YoY) growth in total sales at 63,551 units.

In FY24, Hyundai Motor India was the second largest carmaker in the country after Maruti Suzuki (in terms of passenger sales volume).

The company set up its first Indian manufacturing plant in 1998 and its second in 2008.

Over the past year, Hyundai Motor Group has announced new investment plans worth approximately five trillion won ($3.75 billion) in India.