Hyundai Motor India’s IPO will begin next week. This is one of the most concerning public issues in recent times. Hyundai Motor India’s IPO will be launched on October 15. It will be the largest offering to date, with the IPO closing on October 17. The company plans to raise Rs 27,870.16 crore by selling Rs 1,422 crore of promoter shares. The IPO price range is Rs 1,865 to Rs 1,960 per share. The company’s share allotment will be completed on October 18. The issue also includes 778,400 equity shares reserved for employees, which will be sold at a discount of Rs 186 to the issue price. It will be listed on the exchange on October 22.
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The price range of the offer has been fixed from Rs 1,865 per equity share to Rs 1,960 per equity share. Bids can be made for a minimum of 7 equity shares and multiples of 7 equity shares thereafter.
About Hyundai Motor India
Demand for the IPO of Hyundai Motor, India’s second-largest carmaker, is strong, with big investors such as Blackrock and GIC Singapore showing keen interest.
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The company has 1,366 sales points and 1,550 service points in India and offers a range of cars including the Grand i10 Nios, i20, Aura, Exter, Venue, Verna, Creta, Alcazar, Tucson and the electric SUV Ioniq 5.
Its Chennai plant, which manufactures all these vehicles, is key to Hyundai’s global exports to Africa, the Middle East, Bangladesh, Nepal, Bhutan and Sri Lanka.
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