More MNCs eye IPO route after passenger car major Hyundai Motor move

Investment bankers say early stage talks on with about half a dozen foreign firms

Passenger car major Hyundai Motor Company’s plan to list its domestic arm may prompt more multinational companies (MNCs) to consider listing their India arms.

Investment banking sources said they were in early-stage talks with about half a dozen MNC firms, which are exploring options to list in India to unlock value and help the parent company raise capital. Without divulging any names, they said the road map followed by the Seoul-based automobile major is keenly eyed by other MNCs.

“Talks are ongoing in the background with other MNCs. The Indian markets offer high valuations, robust liquidity, and access to all kinds of