Hyundai IPO: Hyundai Motor India's IPO, which has been making headlines in the market for a long time, has finally opened for subscription from today (15 October 2024). With this, the Indian unit of the South Korean company has achieved a major milestone in the country's market. Because this IPO with a size of Rs 27,870 crore has become the largest issue in the country.

Earlier this record was held by LIC, which launched an IPO of Rs 21,000 crore in 2022. Interested investors can bid for Hyundai Motor India IPO till October 17, 2024. This IPO will not include new shares. Promoter Hyundai Motor Company will sell 14.2 crore equity shares in the offer-for-sale.

What will be the price band
The company has fixed a price band of Rs 1,865-1,960 per equity share. About 50 per cent of the IPO has been reserved for institutional investors (QIB), 15 per cent for non-institutional investors (NII) and 35 per cent for retail investors. Investors can bid for a minimum of 7 shares (one lot) and then in multiples of 7.

Meanwhile, for one lot, investors will have to invest at least Rs 13,720. At the same time, bids can be made for a maximum of 14 lots or 98 shares and for this the investor will have to invest Rs 1,92,080. Merchant Bankers and Registrars Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), JP Morgan India and Morgan Stanley India Company are the merchant bankers handling the IPO, while Kaffin Technologies is the registrar. Allotment and Listing The company can finalize the allotment by October 18, 2024. After this, the equity shares will be deposited in the demat accounts of successful investors by October 21, 2024. Trading of the company's shares is expected to start on BSE and NSE from October 22. About the company Hyundai Motor India is the second largest car manufacturing company in the country. It has about 15% share in the Indian automobile market. Apart from this, it is also the second largest exporter of passenger vehicles and has a domestic market share of 14.6%. This is the first time since 2003 that an auto manufacturer has brought its IPO. During that time Maruti Suzuki went public. Company's Finance Hyundai Motor India has recorded a revenue of Rs 69,829 crore in the financial year 2024, which is 15.8 percent more than the financial year 2023. Meanwhile, the company's net profit has increased by 28.7 percent to Rs 6,060 crore in the same period. In the first quarter of the current financial year, the company has recorded a revenue of Rs 17,344.2 crore.