National Desk
25 September
Sandeep Dhand Ludhiana
South Korean automaker Hyundai’s Indian unit and food delivery giant Swiggy have received approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offerings (IPOs). According to sources, Hyundai is eyeing a significant fundraising of at least $3 billion (approximately Rs 25,000 crore) through its IPO. The automaker’s entry into the capital markets comes as it aims to expand its presence and operations in India.
Swiggy, a leading food delivery platform in India, is also set to launch its IPO, with an estimated target of over Rs 10,000 crore. This move will allow Swiggy to strengthen its market position and invest in its growing food and quick-commerce businesses.
Both companies’ IPOs are highly anticipated in the market, with investors keenly watching how these large public offerings will unfold. With SEBI’s nod, Hyundai and Swiggy are now set to initiate the next steps towards their stock market debuts, which could reshape the competitive landscape in their respective industries.