.Hyundai (Photo: Shutterstock) 2 minutes reviewed Last Upgraded: Sep 25 2024|12:45 AM IST.Hyundai Motor India has gotten approval for its initial public offering from the Securities and also Exchange Board of India, depending on to pair of resources knowledgeable about the scenario.The South Korean car manufacturer strategies to increase $3 billion at an about $twenty billion valuation, resources previously told Wire service.This would create it the 1st carmaker to go social in India in 20 years, observing market forerunner Maruti Suzuki's IPO in 2003.Hyundai India performed not reply to a request for comment outside company hrs.The car manufacturer is hoping to redeem market allotment coming from increasingly awesome domestic competitors, including Tata Motors, through broadening its own SUV schedule.It intends to introduce its first India-made electric car very early next year and also present a minimum of pair of gasoline-powered versions modified for the market place starting in 2026, 3 sources along with knowledge of the provider's plannings recently told Reuters.India is the third-biggest revenue power generator around the globe for Hyundai after the USA as well as South Korea, and it has actually currently invested $5 billion in the country along with devotions to push in another $4 billion over the upcoming years.Individually, SEBI likewise permitted the IPO of SoftBank-backed food distribution huge Swiggy, which is actually targeting an evaluation of around $15 billion and also strives to increase $1-1.2 billion, depending on to a number of sources acquainted with the concern.( Simply the heading and also image of this report may possess been revamped by the Business Standard personnel the remainder of the web content is actually auto-generated from a syndicated feed.).First Published: Sep 25 2024|12:39 AM IST.