.Hyundai (Picture: Shutterstock) 2 min read Last Updated: Sep 25 2024|12:45 AM IST.Hyundai Electric motor India has actually acquired authorization for its own initial public offering from the Stocks and also Substitution Board of India, depending on to two resources acquainted with the circumstance.The South Oriental car manufacturer plans to elevate $3 billion at an approximately $20 billion assessment, sources recently informed Reuters.This would certainly make it the first carmaker to go public in India in 20 years, following market leader Maruti Suzuki's IPO in 2003.Hyundai India performed certainly not respond to a request for comment outside service hours.The car manufacturer is hoping to recover market portion coming from progressively impressive domestic rivals, such as Tata Motors, through expanding its own SUV schedule.It plans to launch its own initial India-made power car early next year and introduce at the very least two gasoline-powered models adapted for the marketplace beginning in 2026, three sources with understanding of the business's strategies recently informed Wire service.India is the third-biggest revenue power generator around the globe for Hyundai after the USA and also South Korea, as well as it has presently committed $5 billion in the nation along with devotions to pump in one more $4 billion over the upcoming years.Separately, SEBI also accepted the IPO of SoftBank-backed food items shipment large Swiggy, which is targeting a valuation of around $15 billion and intends to raise $1-1.2 billion, according to several resources acquainted with the matter.( Simply the headline and also photo of this report might have been revamped by the Business Criterion personnel the rest of the web content is actually auto-generated from a syndicated feed.).Initial Posted: Sep 25 2024|12:39 AM IST.