Hyundai Motor India Ltd (HMIL), the local arm of South Korea's Hyundai Motor Co, is planning to launch its initial public offering (IPO), which could be the country's largest ever, The Economic Times (ET) reported on Monday. It is likely to be launched around Diwali, between September and November this year.
The report said that the bankers have valued HMIL at $22-28 billion, and the automaker is likely to dilute 15-20 per cent to raise $3.3-5.6 billion (Rs 27,390 to Rs 46,480 crore).