Hyundai Motor India IPO alert: Dates, price band, minimum lot size and all you need to know
Hyundai Motor India will be the first initial share sale of an automaker in over two decades. The previous one was by Maruti Suzuki in 2003
Hyundai Motor India will be the first initial share sale of an automaker in over two decades. The previous one was by Maruti Suzuki in 2003
Hyundai Motor India will be the first initial share sale of an automaker in over two decades. The previous one was by Maruti Suzuki in 2003
Hyundai Motor India will be the first initial share sale of an automaker in over two decades. The previous one was by Maruti Suzuki in 2003
In what would be the largest IPO in the country, Hyundai Motor India Ltd on Wednesday announced that it has set a price band of Rs 1,865-1,960 per equity share for its Rs 27,870 crore initial public offering (IPO).
The IPO by the Indian arm of South Korean automaker Hyundai will be the first initial share sale of an automaker in over two decades. The previous one was by Japanese carmaker Maruti Suzuki's listing in 2003.
When will the issue hit capital markets?
The Hyundai Motor India issue will open for public subscription on October 15 and the initial share-sale will conclude on October 17.
The bidding for the anchor investors will open for a day on October 14. It will be listed on both NSE and BSE on October 22.
At the lower end of the price band, the IPO size is pegged at Rs 26,505 crore and at the upper end, it expects to raise up to Rs 27,870 crore. This values the automaker at up to Rs 1.6 lakh crore post-issue.
What is the minimum lot size?
The minimum lot size is seven shares and retail investors will need to chip in at least Rs 13,720 to participate in the IPO.
With the South Korean parent Hyundai Motor Company diluting its stake, the proposed Hyundai IPO is entirely an offer-for-sale (OFS) of 14,21,94,700 equity shares by promoter and there will be no fresh issue component. Since its fully an OFS, Hyundai Motor India will not receive any proceeds from the IPO.