Mon Oct 14 05:19:02 UTC 2024: ## Hyundai Motor India to Launch India’s Biggest IPO

**Chennai, India** – Hyundai Motor India Ltd (HMIL), the Indian subsidiary of the South Korean automaker, is set to launch its initial public offering (IPO) on Tuesday, October 15th, marking the biggest IPO in India’s history. The IPO, which will be a complete offer-for-sale (OFS) where Hyundai’s South Korean parent will be diluting some of its stake, will raise a whopping Rs 27,870.2 crore (approximately $3.4 billion).

The IPO, which opens for public subscription on Tuesday, October 15th, will close on October 17th. Anchor investors can submit bids on October 14th. The share allotment will take place on October 18th, and Hyundai Motor India’s shares will be listed on BSE and NSE on October 22nd.

**IPO Details:**

* **Price Band:** Rs 1,865 to Rs 1,960 per share
* **Lot Size:** Minimum 7 equity shares, in multiples of 7 thereafter

**Analyst Recommendations:**

Most brokerages have given a ‘buy’ rating to the IPO, highlighting Hyundai’s strong financial performance and growth prospects in the Indian auto market.

* **Bajaj Broking:** “The issue relatively appears fully priced, but the company is poised for bright prospects post completion of its ongoing expansions.”
* **Master Capital Services:** “Hyundai’s IPO offers potential value growth by expanding investment prospects in the underdeveloped Indian auto market.”
* **LKP Securities:** “We believe it (Hyundai Motor India IPO) is the second best player to play as a proxy to the Indian PV (passenger vehicle) theme along with the likes of Maruti Suzuki.”

**Potential Impact:**

Hyundai’s IPO is seen as a significant milestone for the Indian auto industry, as it is the first automaker’s initial share sale in over two decades.

* **Increased Competition:** Hyundai’s IPO is expected to increase competition in the sector, potentially leading to innovation and improvements in offerings from other automakers.
* **Global Investor Interest:** The IPO is likely to attract significant global investor interest, boosting the valuation of the Indian auto sector.
* **Market Share Potential:** Hyundai’s focus on innovation, particularly in the EV sector, positions the company to gain a larger market share and command higher prices.

**Hyundai’s India Story:**

Hyundai Motor India commenced operations in India in 1996 and currently sells 13 models across segments. The company holds the #2 position in the Indian car market, with a roughly 15% share. Hyundai sold 614,721 cars in India and exported 163,155 units in the year to March 2024.

With its robust brand image, loyal customer base, and commitment to innovation, Hyundai is poised for further growth in the Indian market.

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