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<ul><li><keyword id="596" type="General" weightage="20" keywordseo="Hyundai" source="Orion">Hyundai</keyword> Motor India received approval from SEBI for its initial public offering (IPO).</li><li>The automaker is expected to raise $3 billion (approx. ₹25,000 crore) through its IPO.</li><li>This will make it the biggest IPO in India, beating the state-owned Life Insurance Corporation of India’s IPO.</li></ul> Hyundai Motor India Limited (HMIL), the Indian arm of the South Korean automaker Hyundai has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The automaker had<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms"> filed papers</a> with SEBI in June 2024 and has finally received approval. The company plans on raising $3 billion (approx. ₹25,000 crore) at a valuation of $20 billion. The company established its first manufacturing plant in India in 1998, followed by a second plant in 2008. In FY24, Hyundai Motor India was the country’s second-largest carmaker after Maruti Suzuki. Hyundai is offering 14.2 crore shares with a face value of ₹10 each, which is around 17.5% stake in the company. While there is no official announcement yet, the IPO is expected to hit the street in October 2024. "The objects of the offer are to carry out the Offer for Sale of up to 142,194,700 Equity Shares of the face value of Rs 10 each by the Promoter Selling Shareholder and to achieve the benefits of listing the Equity Shares on the Stock Exchanges," the company said in the DRHP. <div type="Article" hostid="261" msid="111519009" title="Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO" mstype="2" mssubtype="0"></div> This will make the <keyword id="20457114" type="General" weightage="100" keywordseo="Hyundai-ipo" source="Orion">Hyundai IPO</keyword> the country’s biggest IPO, beating the state-owned Life Insurance Corporation of India’s (LIC) $2.7 billion (approx. ₹21,000 crore) listing in 2022. That is until Reliance Jio’s IPO hits the street. Jio is expected to raise around ₹55,000 crore from the market. Hyundai has become the first car maker to go public in India in over two decades. The last car maker to go public was Maruti Suzuki, which held its IPO in 2003. Apart from this, Tata Motors and Mahindra and Mahindra are listed in the Indian stock market. Over the past year, Hyundai Motor Group has announced new investment plans in India totalling approximately $3.75 billion. The company has already invested around $5 billion in the country. India is the third biggest market for the company, after the US and South Korea. <div type="Article" hostid="261" msid="113016216" title="August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales" mstype="2" mssubtype="0"></div> Hyundai emerged as the second biggest automaker in August 2024 with nearly 50,000 cars sold during the month. A Reuters report revealed that the company plans on launching its first India-made electric vehicle in the country in 2025. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/krn-heat-exchanger-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113653270.cms">KRN Heat Exchanger IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/sebi-report-reveals-the-ugly-truth-of-fo-trading-in-india-93-of-retail-traders-incurred-losses/articleshow/113620397.cms">SEBI report reveals the ugly truth of F&amp;O trading in India – 93% of retail traders incurred losses</a> <a href="https://www.businessinsider.in/business/auto/news/tata-nexon-ev-with-a-bigger-battery-launched-starting-at-13-99-lakh/articleshow/113631992.cms">Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh</a>

Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October

<ul class="summary-list"><li>Reddit is eyeing an initial public offering as early as the first quarter of 2024.</li><li>Potential investors are advising it to target at least a $5 billion valuation, Bloomberg reported.</li></ul>Excitement is growing for one of the most <a target="_blank" href="https://www.businessinsider.com/2024-tech-ipos-discord-reddit-chime-stripe-klarna-2023-12">anticipated IPOs of 2024</a>.Potential investors are advising social media platform Reddit to target a valuation of more than $5 billion as it gears up to go public as soon as March, Bloomberg <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-01-28/reddit-advised-to-target-at-least-5-billion-valuation-in-ipo">reported,</a> citing sources familiar with the matter.The success of the IPO is contingent in part on the state of the IPO market, which has struggled in recent years. Reddit's valuation is estimated below the $5 billion figure in private markets, Bloomberg reported. When Reddit first began preparing to go public in late 2021 — a <a target="_blank" href="https://www.businessinsider.com/2021-has-been-a-record-breaking-year-for-venture-capital-2021-12">record-breaking year for venture capital</a> — some thought the company could be valued as high as $15 billion in an IPO.Investors are hoping that <a target="_blank" href="https://www.businessinsider.com/instacart-klaviyo-profitable-lead-tech-ipo-revival-2023-8">2024 will be a more active year</a> for the IPO market. IPOs began showing signs of life again last year as profitable tech startups like Instacart and Klaviyo filed to go public. This year's IPO market may also be helped by the Fed's promised rate cuts and a weak M&amp;A market. The last time a social media company went public was in 2019. That was Pinterest, and it was valued at $10 billion. Reddit's current target shows that those days of sky-high valuations are gone, for now. Reddit declined Business Insider's request for further comment.Reddit, which some have dubbed <a target="_blank" href="https://www.businessinsider.com/alexis-ohanian-reddit-life-career-family-serena-williams-2020-6">"the front page of the internet,"</a> was launched in 2005 by University of Virginia roommates Steve Huffman, Alexis Ohanian, and Aaron Swartz.A year later, it became one of the biggest sites in the world in terms of unique visitors. The founders then <a target="_blank" href="https://www.cnbc.com/2020/11/03/alexis-ohanian-reflects-on-selling-reddit-for-10-million.html">sold it to Condé Nast</a> for just $10 million. Ohanian went on to launch venture firms Initialized Capital and Seven Seven Six, but Huffman stayed close to the company and has been CEO since 2015 — seeing it through an <a target="_blank" href="https://markets.businessinsider.com/news/stocks/reddit-confidentially-files-to-go-public-2021-12">explosive period of growth</a> during the pandemic, when it birthed the meme-stock craze.Still, even <a target="_blank" href="https://www.businessinsider.com/reddit-cofounder-firm-was-more-like-homework-assignment-than-business-2023-12">Huffman is shocked by how far Reddit has come</a> since its launch. He once said the business felt like a "homework assignment that got out of hand."

Reddit may be targeting a $5 billion valuation for its upcoming IPO

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Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October

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Reddit may be targeting a $5 billion valuation for its upcoming IPO

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