October 8th, insiders revealed that Hyundai Motor (India)'s initial public offering (IPO) will officially accept subscriptions next week, with a pricing range of 1,865 to 1,960 rupees ($22 to $23) per share, valuing the company at up to $19 billion. This public offering could become the largest stock issuance in India this year.

Hyundai Motor's IPO in India will mark the company's first listing in an overseas market outside of South Korea. In the Indian market, Hyundai Motor's public fundraising is also the first time an automobile manufacturer has gone public in India since Maruti Suzuki's listing in 2003. Established in 1981, Maruti Suzuki is a joint venture between the Indian government and Japan's Suzuki Motor Corporation, and it is one of the largest automobile manufacturers in India, as well as a pioneer in the Indian automotive industry.

Insiders have disclosed that Hyundai Motor has selected investment banks such as Citigroup, JPMorgan Chase, HSBC Securities, Kotak Mahindra Capital, and Morgan Stanley to serve as IPO advisors.

It was also mentioned by insiders that the $3 billion public offering will be open for subscription by large institutional investors starting on October 14th, and will invite retail and other categories of investors to bid between October 15th and 17th. Based on the upper limit of the range, the company's valuation is estimated to be around $19 billion, and its shares are expected to be officially listed and traded in Mumbai on October 22nd.

It is worth noting that Hyundai Motor will not issue new shares in this IPO, but will instead use the Offer for Sale (OFS) method.

Today, in regulatory filings, Hyundai Motor stated that it will sell 142 million shares of Hyundai Motor (India) for the latter's IPO. After the sale of the relevant shares, Hyundai Motor will still hold 670 million shares of Hyundai Motor India, or 82.5% of the shares. Currently, the indicative range for the IPO pricing has not been finally determined.

On September 30th, Hyundai Motor just achieved one of the most significant milestones in its history, with a cumulative global automobile production reaching 10 million vehicles. Since its establishment, Hyundai Motor has achieved this remarkable accomplishment in just 57 years, making it one of the fastest-growing companies in the global automotive industry.

In the second quarter of this year, Hyundai Motor recorded its highest-ever quarterly revenue, increasing by 6.6% year-on-year to 450.2 trillion won. At the same time, operating profit increased by 0.7% year-on-year to 42.8 trillion won, also its highest quarterly performance, with an operating profit margin of 9.5%. Its net profit (including non-controlling interests) grew by 24.7% to 41.7 trillion won.

In the second quarter, Hyundai Motor sold 192,242 electrified vehicles worldwide, including hybrid cars, plug-in hybrid cars, pure electric cars, and fuel cell vehicles, which is a total increase of 0.2% compared to the same period last year. Among them, hybrid car sales were 122,421 units, a year-on-year increase of 26.4%, and pure electric cars were 58,950 units, a year-on-year decrease of 24.7%.

Hyundai Motor expects that as the growth of the pure electric car market slows down, the demand for hybrid cars will remain strong in the short term. Looking ahead, Hyundai Motor anticipates that the demand for pure electric cars will lead the eco-friendly car market.

Hyundai Motor also stated that it will launch its first India-made electric vehicle at the beginning of next year, and starting from 2026, it will introduce at least two fuel models tailored for the Indian market.