The situation regarding the initial public offering (IPO) of Hyundai Motor India has become clear. We bring you 10 big things to know about Hyundai Motor India’s IPO. It includes all the information from price band to GMP.
1) Hyundai Motor India’s initial public offering (IPO) is going to open for subscription on October 15. The issue will close on October 17.
2) The company has fixed the price band of ₹1,865-1,960 per share for the public offer. Investors can bid one lot of 7 shares, followed by bidding in multiples of 7.
3) According to RHP, the promoter, Hyundai Motor is going to sell 14.2 crore equity shares through offer for sale. There is no fresh issue in the IPO.
4) According to market experts, the current gray market premium of Hyundai Motor India is ₹147, which shows a premium of 7.5% above the issue price.
5) The company is planning to raise approximately ₹27,870 crore through IPO. On October 14, the IPO will be opened for anchor investors for one day.
6) The allotment of Hyundai Motor India IPO shares is expected to take place on October 18 and the equity shares will be credited to the demat accounts of successful investors by October 21. Trading of the company’s shares will start on BSE and NSE from October 22.
7) About 50% of the IPO is reserved for institutional investors (QIBs), while 15% is reserved for non-institutional investors (NIIs). 35% of the IPO is reserved for retail investors.
8) Hyundai Motor India is the second largest OEM and second largest exporter of passenger vehicles and has a domestic market share of 14.6%.
9) Hyundai sold 64,201 units in the month of September, which is a decline of 10% on year-on-year basis. So far in 2024, the company has sold 5.77 lakh units, which is stable compared to last year.
10) Merchant bankers to the Hyundai Motor India IPO include Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), JP Morgan India, and Morgan Stanley India Company, while KFin Technologies is the registrar.