Hyundai Motor India, the nation’s second-largest car manufacturer, is gearing up to launch the largest initial public offering (IPO) in Indian stock market history, aiming to raise ₹27,855 crore. The IPO is set to open on Tuesday, October 15, and will close on Thursday, October 17.
The company plans to offer shares priced between ₹1,865 and ₹1,960 each, with a minimum investment requirement of ₹13,720 for retail investors, who can apply for a minimum of seven equity shares. The IPO will be an offer for sale (OFS) by Hyundai Motor Company, its South Korean parent, which intends to offload up to 14.21 crore equity shares.
Notably, the IPO includes a reservation of 7.78 lakh shares for eligible employees, who will receive a discount of ₹186 per share. The allocation of shares is structured as follows: 50% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.
Key Details:
- IPO Dates: Opens on October 15; Closes on October 17
- Price Range: ₹1,865 – ₹1,960 per share
- Minimum Investment: ₹13,720 for retail investors
- Expected Allotment Date: October 18, 2024
- Provisional Listing Date: October 22, 2024
Hyundai Motor India, established in 1996 and headquartered in Chennai, is a key player in the automotive sector, producing a wide range of vehicles, including sedans, SUVs, and electric vehicles (EVs). The company boasts an extensive sales and service network across India, with 1,366 sales points and 1,550 service locations.
Financially, Hyundai Motor India has demonstrated strong performance, reporting a net profit of ₹1,489.65 crore for Q1 of FY2024 and total revenues of ₹17,567.98 crore. For the fiscal year ending March 31, 2024, the company recorded a net profit of ₹6,060.04 crore and revenues of ₹71,302.33 crore.
With the IPO generating considerable interest among investors, Hyundai Motor India’s ambitious move is set to reshape the landscape of the Indian automobile market while positioning the company for future growth.
