Hyundai Motor IPO Update: Launches on October 14, Listing on Oct 22, Price Range ₹1,865-1,960

Hyundai Motor IPO Update: Hyundai Motor India's upcoming hot IPO will likely open for subscription during October 15-17, with the institutional or anchor bidding slated for October 14. The IPO could be worth about Rs 25,000 crore.

Hyundai Motor IPO Update

Amid the lack of action in the primary markets, Hyundai Motor India is likely to launch its mega IPO next week, suggests a Reuter's report citing sources. The Indian arm of the South Korean auto major is expected to raise a little more than $3 billion or Rs 28,000 crore via IPO, which is likely to be the biggest public offering at Dalal Street.

Details of the Hyundai Motor IPO Offering

The IPO is projected to raise $3 billion and will initially open for institutional investors on October 14. Following this, retail and other categories of investors can place their bids from October 15 to 17. Sources familiar with the process revealed that these timelines and pricing strategies are based on confidential discussions.

Hyundai Motor India IPO: Key Details for Investors

Overview

Hyundai Motor India is set to launch its highly anticipated Initial Public Offering (IPO) next week, marking the first IPO by an automaker in India since Maruti Suzuki's debut in 2003. The IPO is expected to raise around ₹25,000 crore (approximately $3 billion), making it one of the largest public offerings in recent times. The offering will be a 100% Offer for Sale (OFS), where Hyundai Motor Company, the South Korean parent, will sell up to 14.2 crore shares, amounting to 17.5% of its stake in the Indian unit.

Hyundai Motor IPO Grey Market Premium (GMP)

The shares are currently commanding a grey market premium (GMP) of approximately ₹280 per share, although this has dropped from earlier highs of ₹370. This signals strong initial interest from investors despite recent market fluctuations.

Financial Performance and Market Position

Hyundai Motor India is the second-largest car manufacturer in the country, trailing only Maruti Suzuki. The company has been expanding its market share, particularly in the SUV segment. For FY23, Hyundai posted a net profit of ₹4,709 crore on revenue of ₹60,308 crore. The IPO is seen as a strategic move for Hyundai to further cement its presence in the rapidly growing Indian market.

Conclusion

Hyundai’s IPO will not only be a significant event in the Indian stock market but also provide retail investors an opportunity to invest in a well-established automotive giant with a strong track record in India. With a large offering and robust investor interest, this IPO is expected to make waves on Dalal Street.

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