.Hyundai (Photo: Shutterstock) 2 minutes read Final Updated: Sep 25 2024|12:45 AM IST.Hyundai Electric motor India has actually acquired authorization for its own initial public offering from the Securities and Swap Board of India, according to pair of sources knowledgeable about the situation.The South Korean car manufacturer plans to increase $3 billion at an around $twenty billion valuation, resources previously told Reuters.This would certainly make it the 1st carmaker to go public in India in two decades, adhering to market forerunner Maruti Suzuki's IPO in 2003.Hyundai India carried out not respond to a request for comment outside business hours.The car manufacturer is aiming to redeem market reveal from significantly powerful residential competitors, including Tata Motors, through extending its sport utility vehicle lineup.It prepares to launch its 1st India-made electrical automobile early next year as well as introduce at the very least pair of gasoline-powered versions modified for the market place starting in 2026, 3 resources along with knowledge of the company's programs previously said to Reuters.India is actually the third-biggest income power generator globally for Hyundai after the U.S. and South Korea, as well as it has actually presently spent $5 billion in the nation along with commitments to push in another $4 billion over the upcoming decade.Independently, SEBI also approved the IPO of SoftBank-backed food shipment big Swiggy, which is actually targeting an appraisal of around $15 billion and also targets to raise $1-1.2 billion, according to a number of sources acquainted with the matter.( Just the headline and also image of this document may possess been actually modified due to the Business Criterion personnel the rest of the web content is auto-generated from a syndicated feed.).1st Posted: Sep 25 2024|12:39 AM IST.