Hyundai Motor India is gearing up for its highly anticipated Initial Public Offering (IPO) from October 15 to 17, 2024, marking the largest IPO in Indian history. Valued at approximately ₹27,870 crore, this offering surpasses the previous record set by LIC’s IPO in 2022. The IPO will consist entirely of an “offer for sale” by Hyundai Motor Company, with 142.19 million equity shares on offer.
Key Details:
- Price Band: ₹1,865 to ₹1,960 per share.
- Lot Size: Investors can bid in lots of 7 shares, with the minimum retail investment set at ₹13,720.
- Objective: The IPO is purely an offer for sale by the parent company, Hyundai Motor. Hyundai Motor India itself will not receive any proceeds from this sale.
- Grey Market Premium (GMP): The IPO is witnessing a grey market premium of ₹147, translating to about a 7.5% premium over the upper price band.
- Important Dates:
- Anchor investors: October 14, 2024.
- Public bidding window: October 15 to 17, 2024.
- Allotment finalization: October 18, 2024.
- Listing on exchanges (BSE, NSE): Likely on October 22, 2024.
This IPO comes at a time when Hyundai Motor India is the second-largest player in the Indian passenger vehicle market, further enhancing the potential for strong market participation. The company has reported a significant rise in revenue, with ₹60,307 crore for FY23, demonstrating robust growth.
