The eagerly awaited initial share sale will be held by Hyundai Motor India Limited, the Indian branch of the South Korean automotive behemoth Hyundai, on Tuesday, October 15, Thursday, October 17 is the last day of the Rs 27,856 crore initial public offering, the biggest in India after LIC's Rs 21,000 crore public offer.
The fixed price range for each equity share is between Rs 1,865 and Rs 1,960. The promoter Hyundai Motor Company is offering 1,42,194,700 shares for sale (OFS) as part of the IPO. There is no fresh issue component.
The company will not receive any proceeds from the IPO because it is solely an OFS. On Monday, October 14, the anchor investor bidding will take place.
Lot size and minimum bid
Retail investors may apply for multiple lots after the minimum lot size of one, which consists of 7 shares valued at Rs 13,720.
15 per cent of the net offer has been set aside for non-institutional investors, or NIIs, 15 per cent for qualified institutional buyers (QIBs), and 35 per cent for retail investors.
Subscription and listing timetable
The subscription period for Hyndai Motors IPO will begin on October 15 and, the shares will be allocated by October 18 after the bidding process concludes today, October 17.
On October 21, successful bidders' demat accounts will be credited with shares and non-allottee refunds will be made. The company's shares are expected to list on the BSE and NSE on October 22,
Registrar and book running lead manager
The bookrunning lead managers for the issue are Kotak Mahindra Capital, HSBC Securities, Citigroup Global, Morgan Stanley, and JP Morgan. The registrar is KFin Technologies. The National Stock Exchange (NSE) and the BSE will list the company's shares.
About Company
In 1996, Hyundai Motor India, a division of the Hyundai Motor Group, started rolling out cars in India. It now offers 13 different model types, including sedans, hatchbacks, SUVs, and battery-electric vehicles (EVs). The carmaker has sold almost 12 million passenger cars in India and abroad since 1998.
