Hyundai Motor India IPO opens next week. It has been one of the most talked about public issues in recent times. The Hyundai Motor India IPO will be launched on October 15. It will be the largest issue so far and the IPO will close on October 17. The company aims to raise Rs 27,870.16 crore by selling 14.22 crore shares of promoters. The IPO price band is between Rs 1865 – 1960 per equity share. The company’s share allotment will be finalised on October 18. The issue also includes an employee reservation of 778,400 shares, which will be available at a price discount of Rs 186 to the issue price. It is going to be listed on exchanges on October 22.
Also Read: Hyundai Motor India YoY Sales Decline by 10% in July, Sells 64,201 Units in September
The Price Band of the Offer has been fixed from Rs 1,865 per Equity Share to Rs 1,960 per Equity Share. Bids can be made for a minimum of 7 Equity Shares and multiples of 7 Equity Shares thereafter.
About Hyundai Motor India
Hyundai Motor India, the country's second-largest carmaker, saw strong demand for its IPO, with big investors like Blackrock and GIC Singapore showing interest.
The company has 1,366 sales points and 1,550 service points across India, offering a range of cars including the Grand i10 Nios, i20, Aura, Exter, Venue, Verna, Creta, Alcazar, Tucson and the electric SUV Ioniq 5.
Its Chennai plant produces all these vehicles and is key to Hyundai's global exports, reaching Africa, the Middle East, Bangladesh, Nepal, Bhutan, and Sri Lanka.
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