Hyundai, Swiggy’s Listings to Power Up India’s IPO Blitz
- Market regulator also approves Vishal Mega Mart’s IPO plan
- New listings in India have topped $8 billion so far this year
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India’s booming market for initial public offerings is set to face is biggest supply of mega share sales, following approval from the market regulator for proposals from Hyundai Motor India Pvt., Swiggy Ltd. and Vishal Mega Mart Pvt.
The three companies together are expected to sell about $5 billion of shares, with Hyundai Motor said to plan an offering of at least $3 billion, Bloomberg reported. Combined with other approved deals and those in the pipeline, new offerings may raise over $7 billion in the final quarter of the year, marking a record quarterly fundraising for Indian firms.