Hyundai Motor IPO
Hyundai Motor India is set to launch its initial public offering (IPO) on October 15, 2024, marking the largest IPO in Indian history with a target of raising ₹27,855 crore. This IPO is an offer for sale (OFS) by its South Korean parent, Hyundai Motor Company, which will sell 14.21 crore equity shares. The price band for the shares is between ₹1,865 and ₹1,960, and the subscription will close on October 17, 2024.
Key details:
- Minimum Investment: Investors can bid for a minimum of 7 shares, with a starting investment of ₹13,720 for retail investors.
- Allocation: 50% of the shares are reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs).
- Listing: Hyundai Motor India's shares are expected to be listed on October 22, 2024, on both the BSE and NSE.
This IPO will not directly benefit Hyundai Motor India, as all proceeds will go to the parent company in South Korea. The company’s strong market position and solid financial performance, including a reported ₹6,060 crore net profit for FY 2024, have generated significant interest from investors.
