Tue Oct 08 16:59:37 UTC 2024: ## Hyundai Motor India IPO Opens Next Week for Subscription

**New Delhi:** Hyundai Motor India is set to launch its initial public offering (IPO) next week, aiming to raise a significant amount of capital from the market. The company filed its Red Herring Prospectus (RHP) with the registrar, officially starting the IPO process.

The IPO will open for subscription on October 15th and will remain open until October 17th. Anchor investors will have access to the IPO on October 14th.

Hyundai Motor Company, the promoter, will offer 14.2 crore equity shares for sale in the IPO, according to the RHP.

The price band for the IPO is expected to be between ₹1,865 to ₹1,960 per share, although the official announcement is expected on October 9th.

**Listing & Potential Impact:**

The company’s shares are likely to be listed on the stock exchange on October 22nd. This move will mark Hyundai as the first car manufacturer to go public in India since Maruti Suzuki in 2003.

**Details of the IPO:**

The IPO will not involve the issuance of new shares. Instead, it is entirely an offer-for-sale (OFS) of 14,21,94,700 existing shares. Sources suggest that Hyundai aims to raise a minimum of $3 billion (approximately ₹25,000 crore) through the IPO.

**Grey Market Buzz:**

Investorgain.com reports that the grey market premium (GMP) for the IPO is ₹165 as of October 8th. This premium has been steadily decreasing from ₹500 on September 28th.

**Hyundai’s Presence in India:**

Hyundai Motor India began operations in India in 1996. Currently, the company offers 13 models across various segments in the Indian market.

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