Business News Desk -Hyundai Motor India is one step closer to launching its IPO. This company, which has launched an IPO of Rs 25,000 crore, will sell 14.22 crore shares. The promoter will sell these shares through offer-for-sale (OFS). According to the information received, fresh issue will not be included in this. This is likely to be the country’s largest IPO. Earlier, LIC had come up with an IPO of Rs 21,000 crore, which is the largest IPO in India so far. This South Korean auto company has applied for IPO with market regulator SEBI in June. The company has received approval for IPO from SEBI and according to media reports, the company can launch IPO in the month of October itself.
Big information about price band
News agency Reuters, quoting sources, has said that the valuation of Hyundai Motor India is $ 19 billion. This IPO will open for anchor investors from October 14. For the remaining investors, it will open for subscription from October 15. Potentially the price band could be ₹1865 – ₹1960 per share. Also the company can be listed on October 22.
What did the company say about the listing?
The company has made it clear that the promoters will sell 14.22 crore shares through IPO. These shares will be issued at a face value of Rs 10 per share. After the IPO, Hyundai Motor will retain 82.5% stake in this company. Through the listing, the company is trying to increase visibility and improve its brand image in India. Besides, existing shareholders will also get liquidity. The company has said that after the listing, the company’s profile will improve in the fastest growing automotive sector like India.
The company is included in the list of big companies in the country’s auto market and that is why investors are already excited about the IPO. In the financial year 2024, this company is the second largest auto company in the country after Maruti Suzuki. Shares of parent company Hyundai Motor on the Korea Stock Exchange have seen a rise of more than 34% in the last one year. Whereas, during this period, the main index Kospi has seen a rise of only 10%.
