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Hyundai Motor India IPO: Investors’ anticipation comes to an end as Hyundai Motor India, the Indian subsidiary of South Korean automaker Hyundai, has unveiled the timeline, lot size, price band, and other crucial details of its highly anticipated initial public offering (IPO).
Valued at approximately Rs 27,870.16 crore, the Hyundai Motor India IPO is poised to be the largest in India since the Rs 21,000 crore IPO of Life Insurance Corporation of India (LIC).
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Hyundai Motor India, the second-largest player in the country’s passenger vehicle market, is set to make its first stock market debut outside South Korea. The Hyundai Motor India IPO will be entirely an offer for sale, with the promoter, Hyundai Motor Company, divesting up to 142,194,700 equity shares, each with a face value of Rs 10.
Hyundai Motor India IPO will be available at a price band of Rs 1,865-1,960, with a lot size of 7 shares. Accordingly, investors can bid for a minimum of 7 shares, and in multiples thereof. Furthermore, the minimum investment required by retail investors to bid for one lot of Hyundai Motor IPO is Rs 13,720.
The minimum lot size investment for sNII is 15 lots or 105 shares, aggregating up to Rs 205,800, and for bNII, it is 73 lots or 511 shares, aggregating up to Rs 1,001,560.
Hyundai Motor India IPO timeline
The anchor bid date for Hyundai Motor IPO is scheduled for October 14, 2024. Following that, the issue will open for public subscription on Tuesday, October 15, 2024.
The three-day subscription window to bid for the Hyundai Motor IPO is slated to conclude on Thursday, October 17, 2024. Following the closure of the subscription window, the basis of allotment of the company’s shares is expected to be finalised on Friday, October 18, 2024, and subsequently, the company’s shares will be credited into demat accounts on Monday, October 21, 2024.
Shares of Hyundai Motor India are likely to make their debut on the bourses on Tuesday, October 22, 2024, by listing at BSE and NSE.
Hyundai Motor India IPO grey market premium (GMP)
The unlisted shares of Hyundai Motor India are trading at a premium of Rs 147 in the grey markets, sources tracking grey market activities reveal. This translates to a grey market premium (GMP) of 7.5 per cent against the upper end of the IPO price of Rs 1,960.
Hyundai Motor India IPO registrar details
Hyundai Motor has appointed KFin Technologies as the registrar for the public issue.
Citigroup Global Markets India, JP Morgan India, Morgan Stanley India, and Kotak Mahindra Capital Company are the book-running lead managers of the Hyundai Motor India IPO.
Hyundai Motor India IPO objective
In the Red Herring Prospectus (RHP), Hyundai Motor India outlined that the objectives of the offer are to carry out the offer for the sale of up to 142,194,700 equity shares by the promoter (Hyundai Motor) selling shareholder and to achieve the benefits of listing the equity shares on the stock exchanges. Hyundai Motor India will not receive any proceeds from the offer.
Hyundai Motor India financial details
As per the DRHP papers, Hyundai Motor India’s revenue from operations for the nine-month period ended December 31, 2023, stood at Rs 52,157.91 crore. It was recorded at Rs 60,307.58 crore for FY23, and for FY22, it stood at Rs 47,378.43 crore.
Hyundai Motor India’s total comprehensive income for the nine-month period ended December 31, 2023, was recorded at Rs 4,376.52 crore. It was reported at Rs 4,692.01 crore for FY23, and for FY22, it stood at Rs 2,904.29 crore.
About Hyundai Motor India
Hyundai Motor India (HMIL), is a wholly owned subsidiary of South Korean automaker Hyundai Motor Company (HMC). The company is the third-largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales in CY2023, according to the CRISIL Report. Hyundai Motor India has been the second-largest auto OEM in the Indian passenger vehicles market since fiscal 2009 (in terms of domestic sales volumes), according to the CRISIL Report.
First Published: Oct 09 2024 | 10:32 AM IST
