Hyundai Motor set to launch initial public offering on October 15, 2024

Hyundai Motor India Limited has announced its plans to open an initial public offering (IPO) of its equity shares on October 15, 2024, as part of a strategic move to enhance its market presence. The price band for the shares has been set between ₹1,865 and ₹1,960 each.

The IPO will consist of an offer for sale of up to 142,194,700 equity shares by Hyundai Motor Company, the promoter selling shareholder. Notably, the company will not receive any proceeds from this offer.

The bidding process will commence with the Anchor Investor Bidding Date on October 14, 2024, followed by the bid and offer opening date on October 15, 2024. The offer will close on October 17, 2024. Bids can be made for a minimum of 7 equity shares, with subsequent bids in multiples of 7.

Hyundai Motor India is a prominent player in the automotive sector, ranking as the third-largest original equipment manufacturer (OEM) globally based on passenger vehicle sales in 2023, as per the CRISIL Report. The IPO is being facilitated through the Book Building Process, with provisions for allocation to various investor categories, including Qualified Institutional Buyers (QIBs), Non-Institutional Investors, and Retail Individual Investors.

Potential investors are urged to review the red herring prospectus (RHP) filed with the Registrar of Companies (RoC) for detailed information on the offer and associated risks. The RHP is accessible on multiple platforms, including the websites of the Securities and Exchange Board of India (SEBI) and the Stock Exchanges.