Hyundai Motor India Limited’s Initial Public Offering to Open on October 15

Jaipur | Hyundai Motor India Limited has announced the launch of its IPO of equity shares, which will open on Tuesday, October 15, 2024. The company is part of the Hyundai Motor Group, which, according to a CRISIL report, was the third-largest global auto original equipment manufacturer (OEM) by passenger vehicle sales in 2023. The bidding for anchor investors will begin one business day prior, on Monday, October 14, 2024, and the offer will close on Thursday, October 17, 2024.

The price band for the IPO is set between ₹1,865 and ₹1,960 per equity share. Investors can place bids for a minimum of 7 equity shares, and in multiples of 7 thereafter.

This IPO includes an Offer for Sale (OFS) of 142,194,700 equity shares by the promoter, Hyundai Motor (the “Promoter Selling Shareholder”). The company itself will not receive any proceeds from this offering.

The offer is being made under the Securities Contracts (Regulation) Rules, 1957 and complies with SEBI ICDR Regulations. The IPO will follow a book-building process, with up to 50% of the net offer available to qualified institutional buyers (QIBs). Up to 60% of the QIB portion may be allocated to anchor investors on a discretionary basis, as decided by the company in consultation with the Book Running Lead Managers (BRLMs). One-third of the anchor portion will be reserved for domestic mutual funds.

Additionally, 5% of the QIB portion will be reserved for mutual funds, and at least 15% of the net offer will be allocated to non-institutional investors. Of this, one-third will be available to bidders applying for between ₹200,000 and ₹1,000,000, and two-thirds for those applying for amounts above ₹1,000,000. The remaining 35% of the offer is reserved for retail individual investors.

The company’s equity shares will be listed on the BSE and NSE. Kotak Mahindra Capital, Citigroup Global Markets, HSBC Securities, J.P. Morgan, and Morgan Stanley will act as the lead managers for the offering.