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
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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India’s biggest Hyundai Motor India IPO gets even bigger, set to open on Oct 15
