Hyundai Motors India Ltd is set to raise approximately Rs 8,315 crore from anchor investors by issuing 42.42 million shares on October 14, ahead of its highly anticipated Initial Public Offering (IPO). The IPO, open for subscription from October 15 to October 17, is priced between Rs 1,866 and Rs 1,960 per share.
The IPO is a complete offer-for-sale, where the promoters will sell 142.19 million shares to raise Rs 27,870 crore. The offering is split across Qualified Institutional Buyers (Rs 5,543 crore), non-institutional investors (Rs 4,158 crore), and retail investors (49.5 million shares valued at approximately Rs 9,701 crore). The company’s market capitalization is estimated at Rs 1.60 lakh crore at the upper price band.
The basis of allotment will be finalized on October 18, with refunds and share credits to investors’ accounts completed by October 21. Hyundai Motors India is expected to list on the stock exchanges on October 22.
Hyundai Motors India, the country’s second-largest passenger vehicle manufacturer, reported revenue of Rs 17,344 crore and a net profit of Rs 1,489.65 crore in the June 2024 quarter. The company offers a diverse portfolio of 13 models, including electric vehicles, and is a key player in both domestic and export markets.
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