Hyundai Motor India Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹1,960
Per ShareLot Size
7 Shares
Minimum Investment
₹13,720
Issue Size
₹27,870.16 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Hyundai Motor India Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
82.5%
Issue Type
Book Building
ISIN
INE0V6F01027
About the Company
Hyundai Motor India Limited primarily manufactures and sells four-wheeler passenger vehicles and parts, such as transmissions and engines in India and outside India. Currently its vehicle portfolio includes 13 passenger vehicle models across sedans, hatchbacks, SUVs and battery EVs. The Company has been the second largest auto OEM in the Indian passenger vehicles market in Fiscals 2022, 2023 and 2024 and the three months ended June 30, 2024, and also since Fiscal 2009 (in terms of domestic sales volumes), according to the CRISIL Report. The Company is a part of the Hyundai Motor Group, the third largest auto OEM in the world based on passenger vehicle sales in CY2023, according to the CRISIL Report. The Company has been India's second largest exporter of passenger vehicles since Fiscal 2022 through June 30, 2024, according to the CRISIL Report. Its revenue from sale of products - vehicles as a percentage of revenue from operations was 85.77%, 87.36%, 85.98%, 86.67% and 86.30%, and our revenue from sale of products-parts as a percentage of revenue from operations was 5.94%, 6.24%, 6.18%, 6.05% and 7.12%, in the three months ended June 30, 2024 and June 30, 2023 and in Fiscals 2024, 2023 and 2022, respectively.
Industry Overview
The Indian PV industry witnessed growth reaching a high of 3.3 million vehicle sales in Fiscal 2019. This growth until Fiscal 2019 was led by continuous improvement in GDP, increase in disposable incomes and new model launches, stable cost of vehicle ownership, as well as rising traction for SUVs. Between Fiscals 2019 and 2024, India's domestic PV sales volume rose at 5% CAGR. This growth was despite the sales contraction (at 10% CAGR) witnessed during Fiscals 2019 to 2021. From the low base of Fiscal 2021, passenger vehicle sales bounced back and grew at a healthy pace to reach the historic high of 4.2 million units in Fiscal 2024. In Fiscal 2024, the Company had a market share across select OEMs in India in terms of volume of 12% (hatchbacks), 22% (sedans) and 18% (SUVs).
Company History
The Company was incorporated on May 6, 1996 as a public limited company under the Companies Act, 1956, with the name "Hyundai Motor India Limited", pursuant to a certificate of incorporation granted by the Registrar of Companies, Tamil Nadu and subsequently, a certificate of commencement of business dated May 10, 1996 was issued to the Company by the Registrar of Companies, Tamil Nadu.
Products & Services
- Hyundai Motor India Limited manufactures and sells four-wheeler passenger vehicles and parts, such as transmissions and engines in India and outside India.
Growth Strategy
- Leveraging its deep understanding of consumer preferences to successfully expand its passenger vehicle portfolio.
- Focus on continued premiumisation of its passenger vehicle portfolio.
- Calibrated manufacturing capacity expansion and efficient capital allocation.
- Focus on increasing EV market share.
- Further strengthening its position as the export hub for HMC.
- Continue to enhance its brand as a trusted brand in India.
- Further deepen its physical-and digital network for sales and services across India.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 142,194,700 equity shares of face value of Rs. 10 each ("Equity Shares") of Hyundai Motor India Limited ("The Company" or the "Issuer") for cash at a price of Rs. 1,960* per equity share (including a premium of Rs. 1,950 per equity share) ("Offer Price") aggregating to Rs. 27858.75* crores through an offer for sale ("The Offer") of 142,194,700 equity shares of face value of Rs. 10 each aggregating to Rs. 27858.75* crores by Hyundai Motor Company ("Promoter Selling Shareholder") (the "Offer for Sale" and such equity shares, the "Offered Shares"). The offer included a reservation of 778,400* equity shares of face value of Rs. 10 each, aggregating to Rs. 138.09 crores* (constituting 0.10% of the post-offer paid-up equity share capital, for subscription by eligible employees ("Employee Reservation Portion"). Pursuant to finalization of basis allotment 613,648 equity shares were allotted to employee under the employee reservation portion. The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer shall constitute 17.50% and 17.42% of the post-offer paid-up equity share capital of the company. * A discount of Rs. 186 per equity share was offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- The Company has been the second largest auto OEM since Fiscal 2009 in the Indian passenger vehicles market in terms of domestic sales volumes, according to the CRISIL Report.
- The Company has diverse portfolio of passenger vehicles across powertrains and across major passenger vehicle segments. Its current portfolio of passenger vehicles caters to a diverse customer base, such that it is able to offer "something for everyone". Currently, its portfolio includes 13 passenger vehicle models (including N Line models which are the passenger vehicle models that feature sporty performance features) across all major passenger vehicle segments by body type.
- The Company identifies emerging market trends in a timely manner and introduce innovative passenger vehicles and technologies to meet customer needs in India. The Company identifies emerging market trends, latent customer needs and aspirations based on its and HMC's global network, in-depth market and product research.
- The Company has pan-India sales and distribution and after-sale services network offered by its dealers. As of June 30, 2024, the company had 1,377 sales outlets across 1,036 cities and towns in India and 1,561 service centres across India across 957 cities and towns in India, which has grown from 1,167 sales outlets across 873 cities and towns in India and 1,307 service centres across 814 cities and towns in India as of March 31, 2021.
- The Company has digitised its customers and dealers' interactions with each other and with the company. Through the "myHyundai" app and its website, customers can interact with the company at every stage of the passenger vehicle purchase journey and access after-sale services.
- Increases in the prices of parts and materials required for its operations could adversely affect the company's business and results of operations.
- Two of its Group Companies, Kia Corporation and Kia India Private Limited, are in a similar line of business as the company which may involve conflict of interests, which could adversely impact its business.
- The company depends primarily on its Group Company, Mobis India Limited (being a subsidiary of Hyundai Mobis Co., Ltd. which is specialised in after-sale parts business for HMC Group Companies), to supply spare parts for after sale services to it and the company dealers. Further, its also depend on Mobis to supply modular parts to it that the company use in the manufacturing process of passenger vehicles and parts and constituted 17.91% of its total parts and materials supplied in the three months ended June 30, 2024. Any failure by Mobis to supply these parts could adversely impact its business. Further, Mobis may engage in transactions with it and other HMC Group Companies that may give rise to conflict situations.
- The company depends on a limited number of suppliers for parts and materials. Any interruption in the availability of parts and materials could adversely impact its operations. Further, any failures by its suppliers to provide parts and materials to it on time or at all, or as per the company specifications and quality standards could have an adverse impact on its ability to meet its manufacturing and delivery schedules.
- The company depends on HMC, its Promoter, for the company operations, including for parts and materials (such as engines and transmission assembly) and research and development. Any adverse change in its relationship with HMC and the companies in the Hyundai Motor Group could have an adverse impact on its business, reputation, financial condition, and results of operations.