 "India's biggest Hyundai Motor India IPO gets even bigger, set to open on Oct 15")
Hyundai Motor India Ltd IPO is set to open on October 15. The country’s second largest car manufacturer, on Wednesday, has fixed a price band at 1,865-1,960 per share.
Due to massive demand, Hyundai Motor India, has increased its issue size by over a tenth to Rs 27,800 crore, up from Rs 25,000 crore planned earlier.
The closing date for subscription of Hyundai Motor India IPO will be October 17. Institutional investors can invest in the anchor book of the company for a day on October 14.
The Indian unit of the South Korean firm - Hyundai Motor Company - is valued at Rs 1.59 lakh crore at the upper price band.
Post the issue, the parent firm will hold 82.5 per cent stake in the Indian unit.
The Hyundai Motor India IPO is entirely an offer-for-sale of 14.2 crore equity shares by promoter Hyundai Motor Company with no fresh issue component.
Key points to know about Hyundai Motor India IPO
Anchor bid for Hyundai Motor IPO : October 14, 2024 (Monday).
Hyundai Motor India IPO subscription date : October 15, 2024 (Tuesday).
Hyundai Motor India IPO subscription last date : October 17, 2024 (Thursday).
Hyundai Motor India IPO allotment - October 18, 2024 (Friday) [Tentatively].
Hyundai Motor India shares will be credited to demand accounts on October 21, 2024 (Monday).
Investors can place a bid for a minimum of seven equity shares and in multiples of seven shares thereafter.
Retail investors can invest a minimum of Rs 13,720 (for a single lot of seven shares) in the Hyundai Motor India IPO.
Maximum investment would be Rs 1,92,080 (for 14 lots of 98 shares) as they can not invest more than Rs 2 lakh in the Hyundai Motor India IPO.
Hyundai Motor India Ltd has reserved half of its net issue size (offer less than employees quota) for qualified institutional buyers.
15 per cent has been reserved for non-institutional investors, and the remaining 35 per cent for retail investors.
Hyundai Motor India Ltd employees will get up to 7,78,400 equity shares in the IPO at a discount of Rs 186 per share to the final issue price.
Hyundai Motor India IPO will be India’s largest public issue, surpassing the previous record set in May 2022 of Rs 21,008 crore public issue by the state-owned Life Insurance Corporation (LIC) India.
With inputs from agencies.
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