Hyundai Motor India IPO: Key Dates and What Investors Need to Know
Hyundai Motor India Limited is set to launch its highly anticipated initial public offering (IPO) on Tuesday, October 15. This IPO is making headlines as it is valued at ₹27,856 crore, making it the largest IPO in India since the Life Insurance Corporation (LIC) raised ₹21,000 crore.
Key Details About the IPO
The price range for the shares has been fixed between ₹1,865 and ₹1,960 per share. The IPO consists entirely of an offer for sale (OFS) of 1,42,194,700 shares by the promoter, Hyundai Motor Company. It’s important to note that there is no fresh issue of shares, meaning the company will not receive any proceeds from this IPO.
Lot Size and Investor Categories
Retail investors can apply for a minimum of one lot, which includes seven shares priced at ₹13,720. Investors can apply for more lots in multiples of seven. The company has set aside 50% of the total offer for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.
Key Dates to Remember
- Bidding Period: October 15 to October 17
- Allotment Finalization: October 18
- Refunds Initiated: October 21
- Shares Credited to Demat Accounts: October 21
- Listing Date: October 22
Company Background
Hyundai Motor India is part of the Hyundai Motor Group and began its operations in India in 1996. The company currently offers 13 different models, including sedans, SUVs, hatchbacks, and battery electric vehicles (EVs). Since its inception, Hyundai has sold around 12 million passenger vehicles in India and has a strong export presence.
Why This IPO Matters
With Hyundai being a major player in the Indian automotive market, this IPO is an exciting opportunity for investors. As the bidding date approaches, market watchers are keen to see how this IPO performs and its impact on the automotive sector.
Hyundai’s IPO is expected to attract significant interest from investors, given its strong brand reputation and market presence in India.
