Hyundai India will open its initial public offering (IPO) for investors on Tuesday, October 15. Bidding will close on October 17, 2024. The price band per equity share has been fixed between ₹ 1,865 and ₹ 1,960, with a face value of ₹ 10 per share. Buyers must bid for a minimum of 7 shares, and any additional shares must be purchased in multiples of 7. A total of 142,194,700 shares will be available for sale. This is India’s biggest IPO.
Through this sale, Hyundai India aims to raise up to $3 billion, which will be used for research and development of new products, future technologies, and upgrading its manufacturing facilities in India. Hyundai India is currently the second-largest carmaker in India with a market share of around 15 per cent, trailing Maruti Suzuki India Ltd, which has a market share of over 40 per cent.
Hyundai Motor India is part of the Hyundai Motor Group, which is set to be the world’s third-largest automaker based on passenger vehicle sales in calendar year 2023. The shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Hyundai India began operations in 1996 with the Santro. Today, its product portfolio includes models such as the Xterra, Grand i10, i20, Venue, Creta, Alcazar, Tucson and its flagship electric vehicle, the Ioniq 5. Additionally, the Creta EV is also planned to be launched early next year. It will rival cars such as the MG ZS EV, Tata Curve EV and BYD Atto 3.
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