Hyundai Motor India IPO: 10 points you need to know

SUMMARY

Hyundai Motor India IPO plans to raise around ₹27,870 crore. The initial public offering is an offer-for-sale (OFS) of 142,194,700 shares by parent Hyundai Motor Company. There is no fresh issue of shares

Hyundai Motor India commenced operations in India in 1996.

Hyundai Motor India IPO: The Indian arm of Hyundai Motor Company, Hyundai Motor India Limited, will launch India's largest initial public offering on Tuesday, October 15. The IPO aims to raise ₹27,870.1 crore (around $3.3 billion).

This will be India's biggest IPO after ₹21,000 crore offering by state-run Life Insurance Corporation of India (LIC) in May 2022.

Hyundai Motor India IPO: 10 key things to know

• Hyundai Motor India bidding period: The issue will be open for public subscription from Tuesday, October 15 to Thursday, October 17. Pre-apply for Hyundai Motor India IPO.

• Hyundai Motor India anchor bidding: The bidding for anchor investors will take place on Monday, October 14. The company has set aside 4.24 crore shares for anchor investors.

• IPO offer structure: The company plans to raise around ₹27,870.1 crore. The initial public offering is an offer-for-sale (OFS) of 142,194,700 shares by parent Hyundai Motor Company. There is no fresh issue of shares.

• Hyundai Motor India price band: The price range has been fixed at ₹1,865-₹1,960 per share, valuing the carmaker at ₹1.6 lakh crore.

• Reservation: Half of the net issue is set aside for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

• Hyundai Motor India lot size: Investors can apply for a minimum of seven shares valued at ₹13,055 and in multiples after that.

• Objective: Since the IPO is entirely an OFS, Hyundai Motor India will not get any proceeds from the offer. The net proceeds will go to the selling shareholder.

• Book running lead manager and registrar: Citigroup Global Markets India Pvt Ltd, Kotak Mahindra Capital Company Ltd, HSBC Securities & Capital Markets Pvt Ltd, Morgan Stanley India Company Pvt Ltd, and JP Morgan India Private Ltd are the booking running lead managers. Kfin Technologies Limited is the IPO's registrar.

• Allotment date: The finalization of allotment is likely to take place on October 18.

• Listing date: The company's shares will be listed on the BSE and the NSE - on October 22.

Hyundai Motor India IPO: Lot size

Retail investors can apply for at least one lot size, consisting of seven shares worth ₹13,720, and in multiples after that.

The company has reserved 50% of the net offer for qualified institutional buyers (QIBs), 15% for non-institutional investors or NIIs, and 35% for retail investors.

Kotak Mahindra Capital, HSBC Securities, Citigroup Global, Morgan Stanley, and JP Morgan are book-running lead managers, while KFin Technologies is the issue's registrar.

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE.

Hyundai Motor India IPO: Key dates

• Bidding period: October 15 to October 17

• Allotment finalisation: October 18

• Initiation of refunds: October 21

• Credit of equity shares to Demat account: October 21

• Listing: October 22

  
  

Hyundai Motor India IPO: About the company

Hyundai Motor India, part of the Hyundai Motor Group, began operations in India in 1996 and currently sells 13 models in segments such as sedans, sports-utility vehicles (SUVs), hatchbacks, and battery electric vehicles (EVs).

Since 1998, the automaker has sold around 12 million passenger vehicles in India and through exports.