Hyundai Motors India IPO:A big update is coming regarding the most awaited IPO of Hyundai Motor India Limited. It is reported that the IPO of Hyundai Motor India Limited may open for investment after Dussehra. According to media reports, this IPO of the leading auto company may open for subscription on October 14. The price band for Hyundai Motor India Limited IPO is expected to be announced by mid next week. At the same time, there is already a strong demand for this issue in the gray market.

what is the detail

According to a report by Moneycontrol, the mega IPO of Hyundai Motor India Limited may open for investment on October 14. Let us tell you that the IPO of Hyundai Motor India Limited, the Indian unit of South Korean vehicle manufacturing company Hyundai, has also recently got approval from SEBI. Meanwhile, according to Investorgain.com, the gray market premium of Hyundai Motor India Limited shares has reached Rs 350. Let us tell you that Hyundai Motor India started operations in India in 1996 and currently sells 13 models in different segments. This is the first time in two decades that an automobile manufacturer is bringing an IPO after the listing of Japanese automobile manufacturer Maruti Suzuki in 2003.

Biggest IPO ever!

The South Korean automobile manufacturer is planning to raise at least $3 billion (about Rs 25,000 crore) through an IPO. If Hyundai Motor India's IPO is successful, it will be India's largest IPO. Earlier, the largest IPO in the country was Life Insurance Corporation of India (LIC) worth Rs 21,000 crore. The IPO documents were filed in June. According to this, the IPO will be entirely based on a sale offer (OFS) of 14,21,94,700 shares by the promoter Hyundai Motor Company.