Priya
Share
New Delhi: The IPO of Hyundai Motor India Limited, the Indian branch of South Korean automaker Hyundai, may be launched soon. This will be India's largest IPO. In this, Hyundai will raise Rs 25,000 crore. Earlier, government insurance company LIC had brought an IPO of Rs 21,000 crore.
When will Hyundai India's IPO come
News agency PTI quoted sources as saying that Hyundai's IPO may open for subscription from October 14. However, if tensions continue in the Middle East, this date may also be extended. According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India's proposed IPO is entirely an Offer for Sale (OFS). This means that Hyundai will not issue any fresh equity. Only promoter Hyundai Motor Company will sell 142,194,700 equity shares.
Maruti's first IPO after listing
Hyundai's IPO is a very important milestone for the Indian automobile industry. This is the first IPO of any auto maker company in the last two decades. Earlier, Japanese automaker Maruti Suzuki was listed in 2003. It is also interesting to note that after Maruti Suzuki India, Hyundai Motor India Limited is the second largest car manufacturer in India. Hyundai India received approval from SEBI to bring IPO on 24 September.
When will the curtain be lifted from the price band?
If Hyundai opens its IPO for subscription on October 14, then it can announce the price band (Hyundai Motor India IPO Price) two-three days before that. Hyundai is the second largest car selling company in India after Maruti, so market experts are expecting that its price band will be around Rs 2 thousand. According to this, there can be 7 to 8 shares in one lot. Hyundai Motor India started operations in India in 1996 and currently sells 13 models in different segments.
--Advertisement--
