Hyundai Motor Rs 25,000-crore IPO next week?
The shares are anticipated to be priced between Rs 1,865 and Rs 1,960.
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Published: Oct 8, 2024 4:47 PM | 1 min read
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Hyundai Motor India is reportedly set for a massive initial public offering (IPO). The IPO is said to be worth Rs 25,000 crore.
As per reports, the IPO will open for subscriptions next week. The shares are anticipated to be priced between Rs 1,865 and Rs 1,960.
Reports claim the IPO will open for subscriptions from institutional investors on October 14, followed by retail and other investors from October 15 to 17, say media reports. Hyundai Motor India's stock is likely to get listed on stock exchanges NSE and BSE on October 22.
Hyundai Motor India's public issue will involve no fresh issue of shares, with the firm's South Korean parent offloading up to 17.5 percent of its stake in the wholly owned Indian subsidiary through an offer for sale (OFS) route, according to reports.
The IPO will be the first IPO by a carmaker after 2003, when Maruti Suzuki launched its primary stake sale. Hyundai is India's second largest carmaker in India after Maruti Suzuki.
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