Hyundai India IPO Set to Open Tomorrow: Key Details, Price Range, and Market Outlook

The much-anticipated Initial Public Offering (IPO) of Hyundai Motor India Limited is scheduled to open for bidding from October 15 to October 17, 2024. This IPO is expected to be the largest in India’s history, with the price band set between ₹1,865 and ₹1,960 per equity share. Through this 100% Offer for Sale (OFS), Hyundai aims to raise ₹27,870.16 crore.

The shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Currently, the IPO shares are trading at a premium of ₹74 in the grey market, signaling strong investor interest.

If the IPO performs as expected, it will surpass the previous record set by Life Insurance Corporation of India (LIC) in 2022, which raised $2.5 billion. Globally, it would rank as the second-largest IPO of the year, following Lineage Inc’s $5.1 billion offering in July.

As India’s second-largest automaker, Hyundai is seeking to expand its market share by focusing on its SUV lineup. The company also plans to launch its first India-made electric vehicle early next year, with additional gasoline-powered models set for release by 2026.

Key IPO Details:

– Price Band: ₹1,865 to ₹1,960 per equity share.
– Grey Market Premium (GMP): Shares trading at a premium of ₹74.
– Lot Size: Investors can bid in lots of 7 shares.
– Allotment Date: Expected on October 18, 2024.
– Registrar: KFin Technologies will handle the IPO’s administration.
– Lead Managers: Kotak Mahindra Capital, Citigroup Global Markets, HSBC Securities, J.P. Morgan India, and Morgan Stanley India.
– Listing Date: Expected on October 22, 2024, following the ‘T+3’ listing rule.

This IPO is a major milestone for Hyundai India as it aims to strengthen its position in the Indian automotive market and tap into the growing demand for electric and gasoline-powered vehicles.