Hyundai Motor India files for IPO worth around ₹27,000 crore, to open next week

What are the details of Hyundai India’s IPO?

The IPO comprising entirely of an offer for sale (OFS) of up to 142,194,700 equity shares by Hyundai Motor Company (which is the ‘Promoter Selling Shareholder), will open on Tuesday, October 15, 2024, and will close on Thursday, October 17, 2024.

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The price band is fixed between ₹1,865-1,960 per equity share, which values it anywhere between ₹26,519-27,870 crore in total.

Bids can be made for a minimum of 7 equity shares and in multiples of 7 equity shares thereafter.

The anchor investor bidding day comes on the previous day to this, which is Monday, October 14, 2024.

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“The company will not receive any proceeds from the offer,” its statement read.

The Hyundai Motor Group is the third largest auto OEM in the world when it comes to passenger vehicle sales during the calendar year 2023, according to a CRISIL report.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited are the Book Running Lead Managers (BRLMs) to the offer.

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