Hyundai India will open its Initial Public Offering (IPO) to investors on Tuesday, 15 October. Bidding will close on 17 October 2024. The price band per equity share has been set between Rs 1,865 and Rs 1,960, with a face value of Rs 10 per share. Buyers must place a minimum bid 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 offering.
Through this sale, Hyundai India aims to raise up to $3 billion, which will be utilized for research and development of new products, future technologies, and upgrades to its manufacturing facilities in India. Hyundai India is currently the second-largest carmaker in India, holding around 15 percent of the market share, trailing only Maruti Suzuki India Limited, which commands over 40 percent.
Hyundai Motor India is part of the Hyundai Motor Group, the third-largest automaker in the world 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 Exter, Grand i10, i20, Venue, Creta, Alcazar, Tucson, and its flagship electric vehicle, the Ioniq 5. Additionally, the Creta EV is also scheduled for a launch early next year. It will be a rival to the likes of MG ZS EV, Tata Curvv EV and the BYD Atto 3.