Hyundai Motor India’s Rs 25,000 Crore IPO To Open In October?
With shares available from October 14, the parent company to offload 17.5 per cent stake, with shares priced between Rs 1,865 and Rs 1,960
Hyundai Motor India is reportedly preparing for an initial public offering (IPO) valued at Rs 25,000 crore. According to reports, the IPO will open for institutional subscriptions on 14 October, followed by retail and other investors from 15 to 17 October. The share price is expected to range between Rs 1,865 and Rs 1,960.
The public issue will see Hyundai's South Korean parent company selling up to 17.5 per cent of its stake in its wholly-owned Indian subsidiary through the offer for sale (OFS) route, with no new shares being issued. Hyundai Motor India is expected to list its stock on the NSE and BSE on 22 October.
This marks the first IPO from a carmaker since 2003 when Maruti Suzuki launched its public offering. Hyundai Motor India, currently the country’s second-largest carmaker after Maruti Suzuki, aims to solidify its position with this public issue.
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