Hyundai Motor $3 billion IPO, largest ever in India, is set to go live next week
The pricing range for the Hyundai Motor IPO has been set between Rs 1865 and Rs 1960 per share, with individual investors requiring an investment of at least Rs 13,720 for 7 shares.
India’s largest and most-awaited IPO in 2024 Hyundai Motor India has announced the launch of its Initial Public Offering (IPO), with a target revenue of Rs. 27,870.16 Crore.
The Hyundai Motor India IPO, which will open for subscription next week on October 15, 2024 and end on October 17, 2024, is wholly an offer for sale, with 14.22 crore shares.
IPO details and pricing
Individual investors are required to deposit a minimum of Rs 13,720 for seven shares in the Hyundai Motor IPO, which has a price range of Rs 1865 to Rs 1960 per share.
Large non-institutional investors (bNII) are required to invest Rs 1,001,560 in 73 lots (511 shares), and small non-institutional investors (sNII) must pay Rs 205,800 for 15 lots (105 shares).
Employees can purchase up to 778,400 shares from the IPO at a discount of Rs 186 off the issue price through a special reserve.
The shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 22, 2024, following the completion of the allotment on October 18, 2024.
According to numerous websites that track grey market premium transactions, Hyundai Motor India IPO shares are trading in the unlisted market for between Rs 140 and Rs 150.
Company overview and performance
Established in May 1996, Hyundai Motor India Limited holds a significant position in the Indian automotive industry. It is a part of Hyundai Motor Group, which ranks third globally in terms of passenger car sales as an original equipment manufacturer (OEM).
The business is well-known for creating cutting-edge, dependable, and inventive four-wheeler passenger cars in addition to making essential parts like engines and transmissions.
Hyundai boasts a vast network spanning 1,366 sales locations and 1,550 service centres throughout India. The firm had sold around 12 million cars in India and through exports as of March 31, 2024. Hyundai Motor India’s sales increased by 16% and its profit after tax (PAT) increased by 29% for the fiscal year that ended in March 2024.
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