Hyundai Motor India IPO Becomes India’s Biggest Ever! 42% Subscribed on Day 2 – QIBs Lead the Charge

The much-anticipated initial public offering (IPO) of Hyundai Motor India, a leading automobile company, opened for subscription on Tuesday, October 15, 2024. This IPO is set to become the largest in India’s history, surpassing the Life Insurance Corporation’s (LIC) ₹21,000 crore public issue from May 2022. Hyundai’s IPO is also one of the biggest in Asia recently.

Key Details of Hyundai Motor India IPO:

• Subscription Dates: The IPO opened on October 15 and will close on October 17, 2024. Investors from all categories can place their bids during this period.
• Anchor Investors: The allocation of shares to anchor investors began on October 14, 2024.
• IPO Pricing: The price range for the shares is between ₹1,865 and ₹1,960, with a face value of ₹10 per share. Investors can bid for a minimum of seven shares, with a minimum investment of ₹13,720.
• Total IPO Size: Hyundai Motor India aims to raise over ₹27,870 crore (approximately $3.3 billion) through this offering. The IPO is an “offer for sale” (OFS), meaning no new shares will be issued. Instead, the company’s South Korean parent will sell up to 14.22 crore shares, which is 17.5% of its stake.
• Remaining Stake: After the IPO, Hyundai’s parent company will still hold an 82.5% stake in Hyundai Motor India.
• Listing Date: Hyundai Motor India shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on October 22, 2024.

The IPO is expected to value Hyundai Motor India at around ₹15,954 crore ($19 billion), making it the biggest stock offering in India this year.