IPO Corner: Hyundai Motor India Ltd.

Written by: IE&M Team

Published on: 14/10/2024

Hyundai Motor IPO opens for subscription on October 15, 2024 and closes on October 17, 2024. The allotment is expected to be finalized on Friday, October 18, 2024. IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, October 22, 2024. It is a book-built issue of Rs 27,870.16 crores. The issue is entirely an offer for sale of 14.22 crore shares.

Issue Opens on: October 15, 2024
Issue Closes on: October 17, 2024
Face Value: Rs 10 each
Price Band: ₹ 1865 – ₹ 1960 Per Share
Lot Size: 7 Equity Shares

The price band is set at ₹1865 to ₹1960 per share. The minimum lot size for an application is 7 Shares. The minimum amount of investment required by retail investors is ₹13,720. The minimum lot size investment for sNII is 15 lots (105 shares), amounting to ₹205,800. The Company will not receive any proceeds from the offer. The Equity Shares are proposed to be listed on BSE and the NSE.

Incorporated in May 1996, Hyundai Motor India Limited is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer in the world based on passenger vehicle sales. The company manufactures and sells reliable, feature-rich, and innovative four-wheeler passenger vehicles backed by the latest technology. The company also manufactures parts such as transmissions and engines. The company provides mobility solutions, operating a network of 1,366 sales points and 1,550 service points across India.

Hyundai Motor India will be making investments towards capacity expansion, product and platform development, and new launches. The company is also gearing up to widen its footprint in the Battery Electric Vehicle market. The company entered into four memoranda of understanding with the Government of Tamil Nadu for Chennai Manufacturing Plant and offer letters with the Government of Maharashtra for its Talegaon Manufacturing Plant, which is yet to commence operations, all of which involved investment commitments, aggregating to approximately Rs 32,000 crore.

About the author: IE&M Team

Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.