The South Korean automotive giant, Hyundai, is said to be considering an initial public offering (IPO) later this year to raise a minimum of USD 3 billion (approximately Rs 25,000 crore).
Hyundai Motor India Ltd (HMIL) is likely to dilute 15-20 per cent stake to raise funds in the range of USD 3.3-5.6 billion, news agency PTI reported citing sources.
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If the company, which is the second largest carmaker in India after Maruti Suzuki India, goes ahead with the IPO, it will be the largest in India, beating LIC share sale worth Rs 21,000 crore.
When contacted over the issue, the company declined to comment.
HMIL commenced operations in India in 1996 and currently sells 13 models across segments.
It has a network of 1,366 sales points and 1,549 service points across the country.
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