Hyundai Motor India is set to launch its highly anticipated initial public offering (IPO) next week, which is expected to be the largest stock offering in the country this year. Media sources revealed on Tuesday that the IPO will likely be priced between Rs 1,865 and Rs 1,960 per share, valuing the automaker at up to Rs 1.6 lakh crore.
Hyundai IPO Details and Timelines
The Rs 25,000 crore IPO will open for subscriptions from large institutional investors on October 14, followed by bids from retail and other investor categories between October 15-17, according to sources familiar with the matter.
Hyundai IPO Price Band
At the upper end of the price band, Hyundai Motor India could be valued at roughly $19 billion (Rs 1.6 lakh crore). The stock is expected to begin trading on the Mumbai exchanges on October 22. Media sources revealed on Tuesday that the IPO will likely be priced between Rs 1,865 and Rs 1,960 per share.
Largest Auto IPO in Two Decades
This IPO will mark Hyundai Motor India as the first car manufacturer to go public in two decades, following Maruti Suzuki’s debut in 2003. It comes amid a period of record-high Indian stock markets, with several companies opting for IPOs in recent months.
Offer for Sale Route
Hyundai Motor India will not issue any new shares as part of the IPO. Instead, the offering will consist of its South Korean parent company selling up to 17.5% of its stake in the wholly owned Indian unit through the “offer for sale” (OFS) mechanism.
(With inputs from Reuters)