Factbox-IPO-bound Hyundai Motor India’s operations

(Reuters) – Hyundai Motor (OTC:) India will launch its IPO next week, marking parent Hyundai’s first listing outside South Korea and India’s first carmaker IPO since 2003.

The $3 billion IPO would offer shares at a price range of 1,865 rupees to 1,960 rupees ($22 to $23) per share, valuing Hyundai’s Indian unit at up to $19 billion.

Here are some facts on Hyundai’s India operations.

* Hyundai set up its India operations in 1996, starting off with the Santro hatchback, once its most sold car.

* Hyundai holds India’s no.2 carmaker spot, coming in behind Maruti Suzuki. It currently has a roughly 15% share in the country’s competitive car market. It sold 614,721 cars in India and exported 163,155 units in the year to March 2024

* Hyundai has one factory outside of Chennai in southern Tamil Nadu state, also dubbed the Detroit of Asia. The factory has a capacity of 824,000 units per year and is running at a utilisation rate of 94%, leaving little room for growth that would help compete with Maruti Suzuki.

* Hyundai aims to reach production of about 1 million units a year with the acquisition of a former General Motors (NYSE:) plant in western Maharashtra state. The plant is expected to start operations only by the second half of the year to March 2026.

* Hyundai has 1,377 dealers across India.

* In India, the carmaker sells 13 models, with the ‘Creta’ and ‘Venue’ sport utility vehicles as well as the ‘Grand i10 Nios’ hatchback among its top-selling models.

* Hyundai’s current factory is also a key export hub, which manufactures cars that are shipped to South Africa, the Middle East as well as Latin America.