Hyundai Motor India IPO Opens October 15: 5 Key Things to know before applying

Hyundai Motor, the most-awaited initial public offering (IPO) of this year, is all set to hit the primary market on October 15. Here is everything you need to know about the automobile company before the bidding starts

Outlook Business Desk

Updated on: 9 October 2024 8:59 am

Hyundai Motors IPO

Hyundai Motor IPO: The festive season is going to be exciting for the primary market this time as one of the most anticipated IPO of this year, Hyundai Motors, is all set to make its debut in the market. The public offering will be opening for subscription on October 15 next week (Tuesday).

As per the regulatory filing, the public offering, valued at Rs 25,000 crore, could potentially become India’s largest-ever IPO by surpassing the Rs 21,000-crore listing of Life Insurance Corporation (LIC) in 2022. Here is all you need to know before the bidding starts

1. Key Dates

Hyundai Motor India IPO will be opening for subscription from October 15 (Tuesday) to October 17 (Thursday). For anchor investors, the allocation date is set for October 14 (Monday).

As per the RHP (Red herring prospectus), the share allotment for the IPO will be finalised on Friday, which is October 18. The company is expected to make its debut on the bourses on October 22 (Tuesday).

2. Price Band and Lot Size

While the RHP did not mention about the price band, Reuters reported that the same could range anywhere between Rs 1,865 and Rs 1,960 per share. The minimum lot size for investors is seven shares, meaning bids must be placed for at least seven shares or multiples thereof. Retail investors will likely need to invest a minimum of Rs 13,720.

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3. No Fresh Issue

The IPO will consist of sale of 14.22 crore existing shares by the promoter through an offer for sale (OFS), with no new shares being issued. Meanwhile, many are already expecting Hyundai Motor India's IPOl to surpass the Rs 21,000 crore Life Insurance Corporation (LIC) listing which was also India’s largest-ever public offering.

4. Book running lead managers

The book-running lead managers for the Hyundai Motor India IPO are Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets Pvt Ltd, Kotak Mahindra Capital Company Limited, JP Morgan India, and Morgan Stanley India.

5. Objective

The major objective of the listing is to enhance the company's standing in India's rapidly growing automotive sector. The listing aims to increase Hyundai Motor India's visibility and brand image in the domestic market. "The purpose of the offer is to execute the Offer for Sale... and to realize the advantages of listing the equity shares on the stock exchanges," the company mentioned in its DRHP earlier.