.Hyundai (Picture: Shutterstock) 2 minutes checked out Final Updated: Sep 25 2024|12:45 AM IST.Hyundai Motor India has secured approval for its own initial public offering from the Stocks as well as Exchange Board of India, depending on to two sources knowledgeable about the scenario.The South Korean automaker plans to increase $3 billion at an approximately $twenty billion valuation, sources formerly told Wire service.This would create it the very first carmaker to go social in India in two decades, adhering to market leader Maruti Suzuki's IPO in 2003.Hyundai India performed not react to a request for opinion outside company hrs.The automaker is aiming to redeem market share coming from considerably awesome domestic opponents, including Tata Motors, through extending its own SUV schedule.It plans to introduce its first India-made power motor vehicle very early next year and also introduce at the very least pair of gasoline-powered versions adapted for the market place starting in 2026, 3 sources along with understanding of the company's programs earlier informed Wire service.India is actually the third-biggest revenue generator around the world for Hyundai after the USA as well as South Korea, and it has actually currently invested $5 billion in the country with commitments to push in another $4 billion over the next decade.Individually, SEBI additionally authorized the IPO of SoftBank-backed meals shipment huge Swiggy, which is actually targeting a valuation of around $15 billion and intends to bring up $1-1.2 billion, depending on to several sources knowledgeable about the issue.( Merely the title as well as picture of this report might have been actually modified by the Company Standard workers the rest of the information is actually auto-generated from a syndicated feed.).Initial Posted: Sep 25 2024|12:39 AM IST.