Wed Oct 09 04:21:35 UTC 2024: ## Hyundai Motor India to Launch India’s Largest IPO, Raising up to Rs 27,855 Crore

**New Delhi, October 14, 2024:** Hyundai Motor India, the popular passenger vehicle manufacturer, is set to launch India’s largest ever initial public offering (IPO) on Tuesday, October 15. The IPO will see the company offer its shares in the range of Rs 1,865-1,960 apiece, with a minimum bid of seven shares. The bid for the issue closes on Thursday, October 17.

This IPO will be an offer for sale by the South Korean auto giant Hyundai Motor Company, which will offload up to 14,21,94,700 equity shares. At the upper end of the price band, the company aims to raise a massive Rs 27,855 crore, making it the biggest IPO in the history of the Indian stock market.

Hyundai Motor India, incorporated in 1996, is a subsidiary of the Hyundai Motor Group, the third largest auto OEM globally based on passenger vehicle sales. The company manufactures vehicles, parts such as transmissions and engines, and provides mobility solutions across India.

The Indian entity will not receive any proceeds from the IPO. All net proceeds will go to the South Korean parent company. The IPO will see a market capitalization of Rs 1.6 lakh crore for Hyundai Motor India.

Hyundai Motor India has a robust network of 1,366 sales points and 1,550 service points across India. It has sold over 12 million passenger vehicles in India and through exports to neighboring countries. The company manufactures a range of vehicles, including sedans, hatchbacks, SUVs, and EVs, with popular models such as the Grand i10 NIOS, i20, Venue, Creta, and Ioniq 5.

The IPO has reserved 7,78,400 equity shares for eligible employees with a discount of Rs 186 per share. Allocation is set at 50% for qualified institutional bidders (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.

Kotak Mahindra Capital, JP Morgan India, Citigroup Global Markets India, HSBC Securities & Capital Markets, and Morgan Stanley India Company are the book running lead managers, with Kfin Technologies serving as the registrar for the issue. The shares are expected to be listed on both BSE and NSE with a tentative listing date of Tuesday, October 22.

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