.Hyundai (Picture: Shutterstock) 2 minutes read through Last Updated: Sep 25 2024|12:45 AM IST.Hyundai Motor India has secured approval for its initial public offering from the Securities and Swap Panel of India, depending on to pair of sources accustomed to the condition.The South Korean car manufacturer strategies to raise $3 billion at an about $20 billion valuation, resources formerly informed News agency.This would make it the initial carmaker to go social in India in twenty years, following market leader Maruti Suzuki's IPO in 2003.Hyundai India performed not reply to a request for remark outside organization hrs.The automaker is hoping to redeem market portion from progressively powerful residential rivals, such as Tata Motors, through extending its SUV schedule.It considers to introduce its own initial India-made electricity automobile early following year and introduce at least 2 gasoline-powered models adapted for the marketplace beginning in 2026, three sources along with understanding of the provider's plannings previously said to Wire service.India is actually the third-biggest revenue generator internationally for Hyundai after the U.S. and South Korea, as well as it has currently committed $5 billion in the country along with devotions to push in an additional $4 billion over the next decade.Separately, SEBI likewise permitted the IPO of SoftBank-backed meals shipping large Swiggy, which is targeting a valuation of around $15 billion and intends to bring up $1-1.2 billion, according to numerous resources accustomed to the issue.( Just the headline and also photo of this file might possess been reworked by the Organization Specification staff the rest of the material is actually auto-generated from a syndicated feed.).Initial Released: Sep 25 2024|12:39 AM IST.