Hyundai Motor India Limited, a part of the Hyundai Motor Group has opened its Initial Public Offering (IPO) of Equity Shares today. The Anchor Investor Bidding Date was October 14 and the Bid/ Offer Closing Date is October 17, 2024.
According to the sources, Hyundai India’s INR 27,870 crore IPO opened for subscription received 8 percent bids initially, led by retail investors. Meanwhile, the company’s shares were trading at INR 35-40 ahead of issue opening in the unlisted market. This indicates a marginal premium of 2 percent over the IPO price.
The Price Band of the Offer has been fixed from INR 1,865 per Equity Share to INR 1,960 per Equity Share. Bids can be made for a minimum of 7 Equity Shares and multiples of 7 Equity Shares thereafter. The Company’s initial public offering comprises an offer for sale of up to 142,194,700 Equity Shares by Hyundai Motor Company.
The Equity Shares of our Company are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited are the Book Running Lead Managers to the Offer.