Hyundai picks JP Morgan, Citi & HSBC as advisors for mega IPO of India arm
Fri, Feb 9, 2024 8:37 PM

Hyundai picks JP Morgan, Citi & HSBC as advisors for mega IPO of India arm

A Flip by Shubhangi Gupta
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Hyundai Motor has enlisted JP Morgan, Citi and HSBC as advisors for its proposed IPO of its India unit, seeking to raise $3-3.5 billion. The draft papers are expected to be filed by June 2024, potentially making it the largest ever IPO in India. This move follows the record-breaking $2.7 bn IPO of LIC in 2022. More banks may be added in the future and Hyundai and the 3 banks declined to comment.

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