Tue Oct 08 16:51:43 UTC 2024: ## Hyundai to Launch India’s Largest IPO: Price Band Set at ₹1,865-1,960
**New Delhi, October 10, 2024:** Hyundai Motor India is gearing up to launch India’s biggest-ever IPO, surpassing the record set by Life Insurance Corporation of India (LIC). The IPO is scheduled to open for subscription next week, with the price band set at ₹1,865-1,960 per share, according to sources cited by Reuters.
The IPO will open for institutional investors on October 14th, followed by retail and other categories from October 15th to 17th. The listing is anticipated on October 22nd, marking the debut of Hyundai Motor India’s shares on the stock market.
Hyundai Motor India plans to raise at least $3 billion (approximately ₹25,000 crores) through this IPO. The company could sell 15-20% of its stake, potentially raising up to $3.3-5.6 billion.
The IPO is a complete offer for sale (OFS) of 1,421,947,00 shares by the promoter, Hyundai Motor, and does not involve any fresh issuance of shares.
This public offering marks Hyundai’s first stock market listing outside South Korea. It also signifies the first public offering by a car manufacturer in India since Maruti Suzuki’s listing in 2003.
The IPO arrives amidst market volatility stemming from geopolitical tensions and increasing crude oil prices. While foreign investors are shifting their focus to the Chinese market, it remains to be seen how Hyundai’s IPO will fare in the primary market.
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