Hyundai Motor India gears up for IPO

Srinagar, Oct 9: Hyundai Motor India Limited, a subsidiary of the world’s third-largest auto OEM, is set to launch its initial public offering (IPO) from October 15 to 17.

A statement said that the company aims to sell up to 142,194,700 equity shares through an offer for sale by its parent, Hyundai Motor Company.

The price band is fixed at Rs 1,865 to Rs 1,960 per share, with a minimum bid of 7 shares.

The Company’s initial public offering comprises an offer for sale of up to 142,194,700 Equity Shares by Hyundai Motor Company (the “Promoter Selling Shareholder”).

The Company will not receive any proceeds from the offer (the “Offer Proceeds”).

The offer includes allocations for qualified institutional buyers, non-institutional investors, and retail individual investors. Anchor investor bidding opens on October 14, 2024.

Kotak Mahindra Capital, Citigroup, HSBC Securities, J.P. Morgan India, and Morgan Stanley India are serving as book-running lead managers for the IPO. The shares are proposed to be listed on BSE and NSE.