Hyundai Motor India's mega Rs 27,870-crore IPO to open from October 15 to October 17; check out issue price, lot size, other important details

Hyundai Motor India is set to launch an initial public offering (IPO) on Dalal Street on October 15. Under the much-anticipated IPO of the carmaker, whose popular models include Grand i10, Exter, Aura and IONIQ 5, potential investors will be able to bid for Hyundai Motor India shares in the price band of Rs 1,865-1,960 per equity share. Estimated to be worth around Rs 27,870 crore, the IPO will be the largest so far in 2024. 

Here are 10 things to know about this development: 

• Important Dates: The IPO will be open for subscription for three trading days till October 17, with bidding by anchor investors set to take place on October 14.
• Issue Price: Under the IPO, shares will be available for bidding in a price band of Rs 1,865-1,960 per unit. 
• Lot Size: Participants will be able to bid for shares in Hyundai Motor, part of the Hyundai Motor Group, in multiples of 7 equity shares during the IPO, which means bidders will have to shell out Rs 13,055-13,720 per lot. 
• Type of Issue: The IPO comprises an offer for sale (OFS) of 14.2 crore Hyundai Motor India shares by the company's promoter, Hyundai Motor Company. This means that the auto maker will not receive any proceeds from the sale. 
• First Group Listing Outside South Korea: The Hyundai Motor India IPO will be its parent's first stock market listing outside South Korea.

• Investor reservation: While up to 50 per cent of the issue will be reserved for qualified institutional buyers, at least 15 per cent will be for non-institutional investors (NIIs) and at least 35 per cent for retail investors, according to the copany's red herring prospectus.

• Rare Auto Listing on D-Street: The IPO will be the country's first listing in the auto space in more than 20 years. Maruti Suzuki India went public in 2003. 

• IPO Boom: The upcoming IPO is set to debut on D-Street in a year marked by intense investor interest in several high-profile companies in the primary market

• Where Will Shares Be Listed? Hyundai Motor India shares will be listed on stock exchanges BSE and NSE. 

• Book-running Lead Managers (BRLMs): Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), JP Morgan India, and Morgan Stanley India Company are the book running lead managers for the issue.

With inputs from agencies 

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