Tax implications likely to influence Hyundai's decision to list Indian arm

Hyundai Motor is exploring an initial public offering (IPO) of its Indian unit to raise around $3 bn (at a valuation of up to $30 bn), according to sources

South Korean auto giant Hyundai Motor Company is considering tax implications on listing its Indian unit before taking a final call, according to sources privy to the development.

Hyundai Motor is mulling an initial public offering for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.

The South Korean company is assessing its local expansion plans before taking a final call, said one of the bankers.