.Hyundai (Photo: Shutterstock) 2 minutes checked out Last Upgraded: Sep 25 2024|12:45 AM IST.Hyundai Electric motor India has secured confirmation for its own initial public offering coming from the Securities and also Exchange Board of India, according to two sources familiar with the scenario.The South Korean car manufacturer strategies to raise $3 billion at an around $twenty billion appraisal, resources formerly informed Wire service.This would certainly create it the initial carmaker to go public in India in 20 years, observing market innovator Maruti Suzuki's IPO in 2003.Hyundai India did not respond to an ask for remark outside business hours.The automaker is hoping to reclaim market portion from progressively impressive domestic competitors, like Tata Motors, through extending its sport utility vehicle lineup.It organizes to release its own 1st India-made electricity auto very early following year and offer at least pair of gasoline-powered versions customized for the market starting in 2026, three resources along with understanding of the business's programs formerly said to Reuters.India is the third-biggest income power generator internationally for Hyundai after the USA and also South Korea, and also it has actually invested $5 billion in the nation with devotions to push in yet another $4 billion over the next decade.Individually, SEBI additionally accepted the IPO of SoftBank-backed food delivery large Swiggy, which is targeting a valuation of around $15 billion and strives to increase $1-1.2 billion, depending on to a number of resources knowledgeable about the concern.( Just the headline and photo of this file might possess been remodelled due to the Organization Standard workers the remainder of the information is auto-generated coming from a syndicated feed.).1st Posted: Sep 25 2024|12:39 AM IST.