Hyundai Motor India IPO is likely to open for subscription between October 14 and 16, 2024. SEBI approved Hyundai’s Draft Red Herring Prospectus on September 24. The IPO issue size is expected to be ₹25,000 crore, with a face value of ₹10 per share.
The IPO will involve an offer-for-sale (OFS) of 14.22 crore shares, and the proceeds will go to the company’s promoters after deducting related costs. Hyundai Motor India has earmarked 35% of the IPO issue size for retail investors, creating an opportunity for broad market participation.
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Hyundai Motor India IPO price band could be around ₹1,800 per share. However, the final price and lot size details will be disclosed closer to the IPO launch. Kfin Technologies Limited will serve as the issue’s registrar.
The Hyundai Motor India IPO marks a major milestone in the company’s expansion strategy in India. The listing will enhance the brand’s visibility, provide liquidity, and create a public market for shares, strengthening Hyundai’s position in the competitive automotive market.
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This public offering will be India’s largest to date, following Life Insurance Corporation (LIC) of India’s IPO, which raised approximately $2.45 billion. Hyundai Motor India’s public issue will also be the first major automotive listing in over two decades, following Maruti Suzuki’s IPO.
Hyundai Motor India, a Korean automaker, has operated in India since 1996, with a portfolio of 13 vehicle models. Globally, Hyundai ranks as the third-largest car original equipment manufacturer (OEM) in terms of passenger vehicle sales, reflecting its significant market presence.
