Hyundai Motor India, the Indian unit of South Korean auto company, has announced the details of its IPO. This company will be listed on the Indian stock market in the month of October itself. The details of this IPO before its listing have already come. Through this IPO, the company will raise ₹27,870 crores by selling about 14.2 crore shares. This will be completely an Offer-for-Sale i.e. OFS. The promoters of the company will sell 14.2 crore shares in OFS. On October 14, the company will raise funds from anchor investors.

Hyundai Motor India is the second largest car manufacturing company in the country. Apart from this, it is also the second largest exporter of passenger vehicles. This company has a 14.6% share in India's auto market. For the first time since 2003, an IPO of an auto company is going to be launched. Before this, the last IPO was launched by Maruti Suzuki. The special thing is that this IPO has come at a time when the Indian equity market is almost close to record high levels. Let's know the details of this IPO further.

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

Grey Market Price
This IPO has already received a great response in the grey market. Currently, it is trading at a premium of ₹ 147 per share in the grey market. This premium has seen a decline in the last few days. The premium of ₹ 147 per share is 7.5% higher than the issue price. 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 KFin Technologies is the registrar. Allotment and Listing The company can finalize the allotment by 18 October 2024. After this, the equity shares will be transferred to the demat accounts of the successful investors by 21 October 2024. The company's shares will be listed on NSE and BSE on 22 October. Company's sales Hyundai sold 64,201 units in the month of September, which is 10% less on a year-on-year basis. Till now, the company has sold 5.77 lakh units till 2024, which is flat compared to last year.