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Hyundai Motor IPO set to open on October 15, 2024

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Synopsis:

Hyundai Motor India will launch its IPO on October 15, 2024, aiming to raise ₹27,000 crore. The offer involves 14.22 crore shares, making it India’s largest IPO. The price band is set between ₹1,865 and ₹1,960 per share.

Hyundai Motor IPO Latest News Today

Hyundai Motor India is set to open its highly anticipated initial public offering (IPO) on October 15, 2024. The offering is expected to raise ₹27,870.16 crore, making it the largest IPO in India’s history, surpassing the ₹21,000 crore Life Insurance Corporation’s (LIC) IPO. This public issue will also be one of Asia’s largest in recent years.

Key IPO details

Hyundai Motor’s IPO price band is set between ₹1,865 and ₹1,960 per share. The IPO will be open for subscription from October 15 to October 17, 2024, with anchor investors allowed to bid on October 14. The shares will debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 22, 2024.

The IPO consists entirely of an offer for sale (OFS) of 14.22 crore shares by Hyundai Motor Company, its South Korean parent. Post-IPO, the parent company will retain an 82.5% stake in the Indian subsidiary.

Lot size and investment

The minimum lot size for the Hyundai Motor IPO is set at seven shares, with a tentative minimum investment of ₹13,720 for retail investors. The offer is structured to reserve 50% of the net issue for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

The Hyundai Motor IPO, with its substantial offering size, is expected to impact the Hyundai Motor share price and attract considerable interest from global and Indian investors. The company’s strong position in the Indian automotive market makes this IPO a highly anticipated event.

Hyundai IPO - All You Need to Know

IPO Subscription Dates: The Hyundai Motor India IPO will be open for subscription from October 15, 2024, to October 17, 2024.

Share Face Value: The face value of each share is ₹10.

Price Range: The price range for the IPO has been set between ₹1,865 and ₹1,960 per share.

Minimum Lot Size: Investors can apply in lots of 7 shares.

Total Offering Size: The issue comprises 142,194,700 shares, which amounts to a total of ₹27,870.16 crores.

Offer for Sale: All 142,194,700 shares of ₹10 each will be offered for sale, totaling ₹27,870.16 crores.

Employee Offer: Employees are eligible for a discount of ₹186 per share.

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

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