Hyundai Motor India IPO: Hyundai’s IPO will open on October 15, know full details including price band

South Korean automaker Hyundai’s Indian unit – Hyundai Motor India Limited (HMIL) is all set to bring its IPO. It will also give information about other details including the price band. This will be the country’s largest IPO so far. Hyundai says that its Rs 27,870 crore IPO will open for subscription from October 15. Let’s know the full details of this IPO.

What will be the price band

Hyundai has fixed a price band of Rs 1,865-1,960 per share for its IPO. This will be India’s largest IPO, surpassing LIC’s Rs 21,000 crore IPO. It will open for anchor investors on October 14. At the same time, retail investors will be able to invest money from October 15 to October 17. Allotment will be on October 18. Hyundai’s entry on BSE and NSE will be on October 22. The registrar of the issue is Kaffin Tech.

IPO will create a record

The proposed IPO is entirely an offer for sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company. No fresh equity will be issued in this. This means that the entire proceeds from the sale of shares will go to the parent company. This is the first IPO of an automaker in two decades after the listing of Japanese carmaker Maruti Suzuki in 2003.

Hyundai’s market share

Hyundai Motor India started operations in India in 1996 and currently sells 13 models in different segments. Hyundai is currently second after Maruti Suzuki in terms of market share. Its share in the domestic market is around 14.6 percent. In September, Hyundai sold 64,201 vehicles, which was 10 percent less on a yearly basis. Hyundai has sold 5.77 lakh vehicles so far in 2024. This is almost flat on a year-on-year basis.