Wed Oct 09 06:01:57 UTC 2024: ## Hyundai Motor India IPO to be India’s Largest Since LIC

**Mumbai, India – October 9, 2024** – Hyundai Motor India, the Indian subsidiary of South Korean automaker Hyundai, has announced key details for its highly anticipated initial public offering (IPO), which is set to be the largest in India since the Life Insurance Corporation of India (LIC) IPO in 2022.

The IPO will see the promoter, Hyundai Motor Company, divesting up to 142,194,700 equity shares, valued at approximately Rs 27,870.16 crore. The price band for the IPO is set at Rs 1,865-1,960, with a minimum investment of Rs 13,720 for retail investors.

The anchor bid date is October 14, 2024, with public subscription opening on October 15th and closing on October 17th. The basis of allotment is expected to be finalized on October 18th, with shares credited to demat accounts on October 21st. Hyundai Motor India shares are expected to debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 22nd.

Unlisted shares of Hyundai Motor India are currently trading at a premium of Rs 147 in the grey market, indicating a strong investor interest. KFin Technologies has been appointed as the registrar for the public issue, with Citigroup Global Markets India, JP Morgan India, Morgan Stanley India, and Kotak Mahindra Capital Company acting as the book-running lead managers.

Hyundai Motor India’s financial performance has been strong, with revenue from operations standing at Rs 52,157.91 crore for the nine-month period ending December 31, 2023. The company is the third-largest auto original equipment manufacturer (OEM) globally and has held the position of second-largest auto OEM in the Indian passenger vehicles market since fiscal 2009.

This IPO marks Hyundai Motor India’s first stock market debut outside of South Korea and is expected to attract significant interest from investors looking to capitalize on the company’s strong growth prospects.

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