New Delhi . The Initial Public Offer (IPO) of Hyundai Motor India, one of the country's largest car manufacturing companies, has opened for common investors from October 15. The company plans to raise an amount of Rs 27,870 crore through this IPO.
This is the biggest IPO in the country so far. Earlier, the Rs 21,000 crore IPO of Life Insurance Corporation of India (LIC) in 2022 was the country's largest IPO.
Hyundai Motor India's IPO will be open for general investors from October 15 to October 17. Its price band has been fixed at Rs 1,865 to Rs 1,960 per share. According to the information given on Bombay Stock Exchange (BSE), till 1:30 pm the IPO is filled only about 8 percent. The reserve portion for Qualified Institutional Buyers (QIBs) is 1 percent, the reserve portion for noninstitutional investors is 6 percent, the reserve portion for retail investment is 13 percent and the quota prescribed for employees is 44 percent.
There are seven shares in one lot of Hyundai Motor India. This entire IPO will be Offer for Sale (OFS). For this reason, all the money raised through this IPO will go to the investors or promoters of the company.
Hyundai Motor India is the second largest car company in the country after Maruti Suzuki India. The company's market share in the period April to June 2024 was 14.6 percent. In the last financial year, the company had sold 7.77 lakh vehicles, of which 21 percent was exported to countries like Africa, Middle East, Europe and Latin America.
The company has 1,366 sales outlets and 1,550 service outlets in the country. Hyundai Motor India's income in the financial year 202324 was Rs 69,829 crore. During this period, the company had made a profit of Rs 6,060 crore and the company's margin was 13.1 percent.
The company's income in the first quarter of the financial year 202425 was Rs 17,344 crore. During this period, the company had made a profit of Rs 1,489 crore and the margin was 13.5 percent.
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Image Credit: KhasKhabar.