.Hyundai (Image: Shutterstock) 2 minutes read Last Updated: Sep 25 2024|12:45 AM IST.Hyundai Electric motor India has actually obtained confirmation for its initial public offering coming from the Securities and also Exchange Panel of India, depending on to 2 resources accustomed to the situation.The South Korean automaker programs to raise $3 billion at an around $20 billion valuation, resources previously informed News agency.This would make it the first carmaker to go social in India in two decades, adhering to market leader Maruti Suzuki's IPO in 2003.Hyundai India performed certainly not respond to a request for opinion outside company hrs.The automaker is actually looking to reclaim market share coming from considerably awesome domestic rivals, such as Tata Motors, by growing its own SUV schedule.It prepares to launch its very first India-made electrical automobile early next year and introduce at least pair of gasoline-powered styles adapted for the market place starting in 2026, 3 sources with knowledge of the firm's strategies earlier told News agency.India is actually the third-biggest revenue power generator internationally for Hyundai after the United State as well as South Korea, and also it has actually presently committed $5 billion in the nation with dedications to pump in an additional $4 billion over the next years.Independently, SEBI additionally accepted the IPO of SoftBank-backed meals shipment big Swiggy, which is actually targeting an assessment of around $15 billion and aims to bring up $1-1.2 billion, depending on to a number of resources accustomed to the concern.( Merely the heading and also photo of this file may have been actually modified due to the Organization Standard workers the rest of the web content is auto-generated coming from a syndicated feed.).1st Published: Sep 25 2024|12:39 AM IST.