October 15, 2024
New Delhi, India
Hyundai Motor India IPO
The initial public offering (IPO) of Hyundai Motor India Limited hit the primary market today and will remain open for bidding until October 17, 2024. The company has set a price band of ₹1865 to ₹1960 per share for the public issue, which is entirely an offer for sale (OFS), meaning proceeds will not go to the company’s balance sheet. Hyundai aims to raise ₹27,870.16 crore through this IPO.
Key Details of Hyundai Motor India IPO:
The Hyundai Motor India IPO has a price band set at ₹1865-₹1960 per share, with the subscription period open from October 15 to October 17, 2024. The company aims to raise ₹27,870.16 crore through an Offer for Sale (OFS). Investors can bid in lots of seven shares. Currently, shares are trading at a ₹65 premium in the grey market. KFin Technologies is the official registrar for the public issue, and the lead managers include Kotak Mahindra Capital, Citigroup Global, HSBC, J.P. Morgan, and Morgan Stanley. The IPO allotment date is expected to be on October 18, 2024, with the listing on BSE and NSE anticipated on October 22, 2024.
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