Wed Oct 09 12:01:51 UTC 2024: ## Hyundai Motor India to Launch India’s Largest IPO, Raising ₹27,870 Crore
**New Delhi:** Hyundai Motor India Limited (HMIL), the Indian subsidiary of the South Korean automaker Hyundai, is set to launch its Initial Public Offering (IPO) on October 15th, aiming to raise a record ₹27,870 crore. This will be India’s largest IPO, surpassing the ₹21,000 crore raised by LIC earlier this year.
The IPO, a complete Offer For Sale (OFS), will see Hyundai Motor Company, the parent company, selling 14,21,94,700 equity shares. This means the entire IPO proceeds will go directly to the parent company.
The price band for the IPO has been set at ₹1,865-1,960 per share. Anchor investors can participate on October 14th, while retail investors can subscribe between October 15th and 17th. Allotment is scheduled for October 18th, and the company will make its debut on BSE and NSE on October 22nd. Kfin Technologies is the registrar for the issue.
This is the first IPO by an automaker in two decades, since Maruti Suzuki’s listing in 2003. Hyundai Motor India, which started its operations in India in 1996, currently sells 13 models across various segments. The company holds the second-largest market share in India after Maruti Suzuki, with a 14.6% share.
In September, Hyundai sold 64,201 vehicles, a 10% year-on-year decline. However, year-to-date sales for 2024 stand at 5.77 lakh units, almost flat compared to the previous year.
This IPO is expected to attract significant investor interest, given Hyundai’s strong market position and the growth potential of the Indian automotive sector.
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