Hyundai Motor India is set to make headlines with its Initial Public Offering (IPO), which will be the largest in Indian history, surpassing the previous record held by LIC. The company has established a price band for its public issue between ₹1,865 and ₹1,960 per equity share. At the upper end of this price band, the total IPO size will be ₹27,870 crore, marking a significant milestone in the Indian capital market.

Offer Details

The IPO will consist entirely of an Offer for Sale (OFS), with the company's parent selling 14.2 crore shares, equivalent to 17.5% of the total equity. This strategic move aims to enhance liquidity and broaden the shareholder base.

Investors will have the option to bid for one lot of seven shares, with further multiples of seven shares allowed thereafter. The company has reserved 50% of the IPO for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for retail investors.

The IPO will open for subscription on October 15, 2024, and close on October 17, 2024. Notably, eligible employees will receive a discount of ₹186 per share when participating in the IPO.

Company Profile

Hyundai Motor India is recognized as the second-largest Original Equipment Manufacturer (OEM) and the second-largest exporter of passenger vehicles in India, boasting a domestic market share of 14.6%. The company's strong presence in the automotive sector is underscored by its commitment to quality and innovation.

In terms of sales performance, Hyundai recorded a total of 64,201 units sold in September 2024, reflecting a 10% decline year-on-year. However, the total units sold in 2024 so far stand at 5.77 lakh, showing a flat trend compared to the previous year.

Conclusion

The Hyundai Motor India IPO represents a significant opportunity for investors to engage with one of India's leading automotive brands. With its large IPO size and strategic pricing, the company aims to leverage market interest while expanding its investor base. As the subscription period approaches, potential investors should closely monitor developments and consider their participation in this landmark offering.

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