Wed Oct 09 09:02:24 UTC 2024: ## Hyundai Motors India to Launch India’s Largest IPO, Aiming to Raise ₹27,870 Crore

**New Delhi:** South Korean automotive giant, Hyundai Motors India, is set to launch India’s largest IPO, aiming to raise a whopping ₹27,870.16 crore from the Indian stock market. The company has received approval from SEBI and announced the launch date for its IPO, which will open for subscription next week on October 15th.

The IPO will surpass the previous record held by LIC, which raised ₹21,000 crore in 2022. This OFS (Offer for Sale) issue will see Hyundai Motors India offering 142,194,700 shares with a face value of ₹10 each. The price band for the IPO has been set at ₹1865-1960 per share, with a lot size of 7 shares. This means investors will need to invest a minimum of ₹13,720 to participate in the IPO.

The subscription period for the IPO will run from October 15th to 17th, with the allotment process scheduled for October 18th. Refunds will be processed on October 21st, and shares will be credited to successful bidders’ Demat accounts on the same day. The listing date is tentatively set for October 22nd.

This IPO marks a significant event for the Indian automotive sector, with Hyundai Motors India becoming the second largest car manufacturer in the country, after Maruti Suzuki, in terms of passenger vehicle sales volume. The last time an auto manufacturer launched an IPO in India was in 2003, when Maruti Suzuki went public. Hyundai Motors India is aiming to achieve a valuation of between $18-20 billion through this IPO.

**Note:** Investors are advised to consult with market experts before making any investment decisions in the stock market or IPO market.

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