Hyundai Motor India has brought India’s largest-ever IPO. The company aims to raise Rs 27,870 crore (around $3.3 billion) through this IPO. The company has a dominant presence in India. The price band for the Hyundai Motor India IPO has been set at Rs 1,865 to Rs 1,960. The minimum investment is pegged at Rs 13,055 for a lot of 7 shares.
The Issue has been booked more than 12% on Day 1 so far, according to the data available with BSE. The bidding for the Hyundai Motor India IPO commenced from October 15, 2024, and will run until October 17, 2024.
Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC). The company offers mobility solutions. HMIL operates 1,366 sales points and 1,550 service points across India. The company has a car portfolio of 13 models, including the much popular, Creta, i20, Venue among others.
The company’s IPO is an offer for sale (OFS) deal of 14.2 crore shares. Parent Hyundai Motor Corporation (HMC) will offload its stake in the company for the offering. This will bring HMC’s stake in the company from 100% to 82.5%. The company shall further reduce its stake to 75% in the next few years to comply with regulatory rules.
Other Major IPOs Other Than Hyundai Motor
LIC IPO- The LIC brought the IPO with the issue size of Rs 21,008 crore. This was the India’s largest IPO in India.
Paytm IPO- One97 Communications, the parent company of Paytm, brought the IPO with the issue size of Rs 18,300 crore. This is among one of the biggest IPOs in the country.
Coal India- Coal India’s Rs 15,200 crore IPO is also among the biggest issues in India.
Reliance Power- Reliance Power came with a Rs 11,560 crore IPO in February 2008. This is also among the biggest IPOs in the country.
Also Read: Hyundai Predicts ‘Strong & Steady’ Indian EV Market Growth Until 2030
