The Initial Public Offering (IPO) of Hyundai Motor India Limited is set to launch next week, opening for bids from October 15 to October 17, 2024. This IPO is anticipated to be the largest public issue in India, with the price range set between ₹1865 and ₹1960 per equity share. Hyundai aims to raise ₹27,870.16 crore through this 100% Offer for Sale (OFS).
The shares will be listed on both the BSE and NSE. Currently, market observers note that the shares are trading at a premium of ₹74 in the grey market.
If successful, Hyundai’s IPO would surpass the previous record held by the Life Insurance Corporation of India, which raised $2.5 billion in 2022. It would also become the second-largest IPO globally this year, following Lineage Inc’s $5.1 billion IPO in July.
As India’s second-largest automaker after Maruti, Hyundai is focused on increasing its market share by expanding its SUV lineup. Additionally, the company plans to launch its first India-made electric vehicle early next year and introduce at least two gasoline-powered models tailored to the market starting in 2026.
Key Details:
Hyundai India’s IPO is set to become the largest in the country if successful, surpassing the previous record held by the Life Insurance Corporation of India, which raised $2.5 billion in 2022.
Additionally, it will rank as the second-largest IPO globally this year in terms of funds raised, following Lineage Inc’s $5.1 billion IPO in July.
As India’s second-largest automaker after Maruti, Hyundai aims to capture more market share by expanding its SUV lineup. The company also plans to launch its first India-made electric vehicle early next year and introduce at least two gasoline-powered models tailored to the local market starting in 2026.
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