On Tuesday, October 15, 2024, subscriptions for Hyundai Motor India’s much awaited mainboard initial public offering (IPO), one of the country’s top automakers, will be accepted. Bids from investors for the shares can be placed until Thursday, October 17, 2024. The company is anticipated to go public on the stock exchange on October 22, 2024.
The Life Insurance Corporation’s (LIC) May 2022 IPO, which collected Rs 21,000 crore, was the previous record, but this one is expected to break it. It will be India’s largest public offering. The IPO of Hyundai Motor India is expected to be the biggest not only in India but also in Asia as a whole.
Hyundai Motor India IPO Detail
The Hyundai Motor IPO subscription window will be open from October 15, 2024, until October 17, 2024. The IPO for Hyundai Motor is solely an offer to sell 142,194,700 shares. The pricing range for the Hyundai Motor IPO is set at Rs 1865 to Rs 1960 per share. Seven shares make up a minimum lot, which translates to a Rs 13,720 minimum investment.
It is anticipated that unlisted shares will be allotted on Friday, October 18, 2024. The book running lead managers of the Hyundai Motor IPO are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Hsbc Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited, and Morgan Stanley India Company Pvt Ltd. The registrar of the issue is Kfin Technologies Limited.
Hyundai Motor India IPO GMP Today
Market watchers claim that the grey market is seeing unlisted shares of Hyundai Motor India Ltd. trade for Rs. 65 more than the share’s issue price. The grey market anticipates a 3.32% listing gain from the public offering, as shown by the Rs 65 grey market premium, or GMP. The GMP is dynamic and dependent on market mood.
About the Company – Hyundai Motor
The Hyundai Motor Group, which comprises Hyundai and Kia, is the world’s third-largest car original equipment manufacturer (OEM) by passenger vehicle sales, with 7.3 million vehicles sold in 2023. The South Korean corporation has been doing business in India since 1996.
Hyundai Motor India mainly produces and markets four-wheeler passenger cars both inside and outside of India, as well as parts such engines and transmissions. There are currently 13 passenger car models available, ranging from sedans and hatchbacks to SUVs and battery-electric vehicles.
