Hyundai Motor India Limited, part of Hyundai Motor Group, the world’s third-largest auto manufacturer by passenger vehicle sales in 2023, plans to launch its initial public offering (IPO) on October 15, 2024, with a price range of Rs 1,865 to Rs 1,960 per share.
The offering involves the sale of up to 142.19 million equity shares by the promoter, Hyundai Motor Company, with no proceeds going to the company.
The IPO follows a book-building process with allocations for Qualified Institutional Buyers (QIBs), non-institutional investors, and retail investors. Shares will be listed on BSE and NSE, and the IPO will be managed by five lead managers, including Kotak Mahindra Capital and Morgan Stanley India.
