.Hyundai (Image: Shutterstock) 2 minutes read Last Upgraded: Sep 25 2024|12:45 AM IST.Hyundai Motor India has actually obtained permission for its own initial public offering coming from the Securities and Exchange Board of India, depending on to 2 sources knowledgeable about the scenario.The South Korean automaker programs to elevate $3 billion at a roughly $20 billion valuation, sources formerly said to Reuters.This would certainly create it the very first carmaker to go social in India in twenty years, adhering to market leader Maruti Suzuki's IPO in 2003.Hyundai India performed not respond to an ask for remark outside business hrs.The automaker is actually aiming to restore market allotment coming from increasingly powerful residential rivals, such as Tata Motors, by broadening its sport utility vehicle lineup.It intends to launch its own 1st India-made electricity automobile very early next year and also launch at least 2 gasoline-powered versions tailored for the market starting in 2026, three sources along with know-how of the company's plans earlier said to Wire service.India is actually the third-biggest earnings power generator around the globe for Hyundai after the USA and South Korea, and also it has actually committed $5 billion in the country with devotions to push in one more $4 billion over the next decade.Independently, SEBI also approved the IPO of SoftBank-backed food distribution huge Swiggy, which is actually targeting an assessment of around $15 billion and also targets to raise $1-1.2 billion, according to multiple resources knowledgeable about the issue.( Merely the heading and picture of this document might have been modified due to the Business Requirement team the remainder of the content is actually auto-generated from a syndicated feed.).1st Posted: Sep 25 2024|12:39 AM IST.