BAJAJ BROKING

Notification
No new Notification messages
Inventurus Knowledge Solutions IPO is Open!
Apply for the Inventurus Knowledge Solutions IPO through UPI in just minutes.
Open a Free Demat Account
Pay ZERO maintenance charges for the first year, get free stock picks daily, and more.
Trade Now, Pay Later with up to 4x
Never miss a good trading opportunity due to low funds with our MTF feature.
Track Market Movers Instantly
Stay updated with real-time data. Get insights at your fingertips.

Hyundai Motor India IPO Approved by SEBI

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Hyundai Motor India's IPO for 142 million shares, targeting a ₹25,000 crore valuation. The IPO set for October could become India's largest.

Hyundai Motor News Today

The Securities and Exchange Board of India (SEBI) has officially given the green light to Hyundai Motor India Ltd's initial public offering (IPO). With this approval, the South Korean automotive giant is all set to make a significant mark in the Indian stock market. The IPO will consist of 142,194,700 equity shares, each with a face value of ₹10.

IPO Details and Schedule

Hyundai Motor India’s IPO is a book-built issue, valued at ₹27,870.16 crores, making it one of the largest IPOs in India's history. The IPO will open for subscription from October 15, 2024, to October 17, 2024. The allotment will be finalized by October 18, 2024, with shares being credited to successful applicants’ Demat accounts by October 21, 2024, and listing on the NSE and BSE set for October 22, 2024.

The IPO is priced within a band of ₹1865 to ₹1960 per share, and retail investors can apply for a minimum of 7 shares. The minimum investment amount for retail participants is ₹13,720. For high-net-worth investors (HNIs), the investment thresholds differ—small HNIs can bid for a minimum of 15 lots (105 shares), while large HNIs can apply for at least 73 lots (511 shares).

Structure of the Offering

The entire issue is an offer for sale (OFS) by Hyundai Motor Company, its parent company, representing 17.50% of Hyundai Motor India's total equity share capital post-IPO. Hyundai Motor Company will use this opportunity to monetize a portion of its holdings while retaining control of its Indian operations.

There’s also an employee reservation portion with a special discount of ₹186 per share, allowing employees to buy shares at a reduced price.

Anchor Investors and Market Impact

On October 14, 2024, Hyundai Motor raised ₹8,315.28 crore from anchor investors, who have committed to purchasing 42,424,890 shares. Half of these shares will have a 30-day lock-in period, and the rest will be locked in for 90 days.

Market Impact and Future Prospects

This IPO marks a transformative phase for Hyundai Motor India. The proceeds from the sale will bolster the company's Indian market presence and operations. Hyundai Motor India currently holds the second-largest market share in the Indian passenger vehicle sector, just behind Maruti Suzuki. As Hyundai enters India’s capital markets, it is expected to significantly boost its visibility and financial strength.

Investors and analysts are keeping a close watch on the upcoming listing, which could further solidify Hyundai's position in India's dynamic automotive landscape.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

8 Lacs+ Users

icon-with-text

4.4+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4700+ Cr MTF Book

icon-with-text