Hyundai Motor, "No Decision Yet" on Reports of Local Listing Review for Indian Subsidiary

Revealed Through Clarification Disclosure on the 7th

Hyundai Motor Company stated on the 7th that "there are no confirmed matters yet" regarding foreign media reports that Hyundai Motor India is considering a local listing by the end of this year.

In a clarification announcement on the afternoon of the same day, Hyundai Motor said, "As a global company, we are constantly reviewing various activities, including overseas subsidiary listings, to enhance corporate value." It added, "We will re-announce within one month or when the timing is confirmed."

Earlier, foreign media reported on the 5th, citing local sources, that Hyundai Motor India is in the early stages of negotiations for an initial public offering (IPO) by the end of this year. It was further reported that through this, Hyundai Motor is expected to be valued at $25 billion to $30 billion (approximately 33.34 trillion to 40 trillion KRW), and plans to list part of its shares to raise at least $3 billion (about 4 trillion KRW) from the stock market.

Hyundai Motor established its India subsidiary in 1996 and officially entered the Indian automobile market by mass-producing its first model, the Santro, at the Chennai plant in Tamil Nadu state in 1998. Currently, Hyundai Motor has its 1st and 2nd plants in Chennai, and Kia has a plant in Anantapur in central India.

Last year, Hyundai increased production by acquiring a plant in the Talegaon area from General Motors (GM). Over the past 25 years, Hyundai Motor and Kia have sold about 9 million units in India, and as of the first half of last year, the combined market share of the two companies in India reached 21.3%.

This content was produced with the assistance of AI translation services.