Hyundai Motor India, the Indian unit of South Korean automobile company Hyundai Motor Company, is going to open its IPO for bidding from October 15. The company is going to create history by launching the largest ever IPO in the Indian capital market. Earlier in 2022, Life Insurance Corporation of India (LIC) had issued a public issue of Rs 21,000 crore. If you also intend to earn money through the IPO of this auto company, then you can invest money in it from Tuesday.
date and price band
According to the news, the IPO (initial public offering) of the country's second largest passenger vehicle manufacturing company will be open for subscription between October 15 and October 17, 2024. Hyundai Motor India has set a priceband of ₹1,865-1,960 per share for the IPO. The IPO involves an offer for sale of 14.2 crore equity shares by its parent company Hyundai Motor Company.
Target to raise Rs 27,870.2 crore
Automobile company Hyundai Motor India has set a target of raising Rs 27,870.2 crore through IPO. The firm has reserved 7,78,400 equity shares for its employees. They will get these shares at a discount of Rs 186 per share from the last issue price. According to Money Control, all the funds from the IPO (except issue expenses) will go to the parent company as it is an offer for sale.
How many shares are reserved for investors?
According to the news, the company has reserved half of the net public issue size (less the employees' share in the IPO) for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 35 per cent for retail investors. Retail investors can invest a minimum of Rs 13,720 (7 shares x Rs 1,960) in the IPO, while their maximum investment will be Rs 1,92,080 (98 shares x Rs 1,960).
Second largest auto OEM
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