Hyundai India IPO Set to Launch at ₹1,865-1,960 On October 14: Retail Investors Eye Biggest Automaker Share Sale of the Year

Hyundai Motor India is preparing to launch its initial public offering (IPO) next week, with the price expected to be in the range of ₹1,865 to ₹1,960 per share, according to sources familiar with the matter. This IPO could value the automaker at up to $19 billion, making it the biggest stock offering in India this year.

Largest IPO in India This Year

The $3 billion IPO will be available for subscription by large institutional investors starting on October 14, while retail and other investors will be able to submit bids from October 15 to 17, sources said. At the upper end of the price range, the Indian arm of Hyundai is expected to be valued at around $19 billion. The stock is projected to begin trading on the Mumbai stock exchange on October 22.

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First Car Manufacturer IPO in Two Decades

This IPO will make Hyundai the first car manufacturer to go public in India in two decades. The last time an automaker went public was Maruti Suzuki in 2003. This move comes at a time when Indian stock markets have reached record highs, with several companies making their stock market debuts in recent months.

Offer for Sale by Hyundai’s Parent Company

Hyundai Motor India will not issue new shares through this IPO. Instead, the South Korean parent company will sell up to 17.5% of its stake in the wholly-owned Indian subsidiary through what is known as an “offer for sale.” This will allow retail and institutional investors to purchase shares in the company.

Hyundai has not yet responded to requests for comments regarding the IPO.