Hyundai Motors India, the Indian unit of auto giant Hyundai, is all set to launch its biggest IPO in the country till date and it will be open to investors from tomorrow. Significantly, after almost two decades, an automobile company is bringing its issue and its size will be bigger than LIC IPO. The company has already made other announcements including the price band, lot size of the IPO. If you are thinking of investing money in this issue then first know all the details related to it which are below…
This IPO will be much bigger than LIC
Tomorrow on October 15, LIC’s record breaking and country’s largest Hyundai IPO will open for investors. Through this issue, the automobile giant raised Rs.27,870.16 crore from the market. In the year 2022 Life Insurance Corporation of India i.e. LIC IPO this size will be Rs. 6,870.16 crores is huge. Yes, LIC IPO size is Rs. 21,000 crores. Hyundai Motors India through this issue raised Rs. 10 will sell 142,194,700 shares of face value. From anchor investors Rs. Let us inform you that the company plans to collect 8,315.28.
When can you bet?
Hyundai Motors India’s IPO will open for subscription tomorrow i.e. 15 October 2024 and investors can invest money in it till 17 October. The company has fixed October 18 for the allotment process and October 21 for the refund process. Apart from this, the shares will also be credited to the demat accounts of the bidders on the same date. If we talk about the list, the probable date for this is fixed as October 22.
Priceband and discount details
Hyundai’s IPO price band per equity share of the company is Rs. Determined as 1865-1960. The company offered a good discount to its employees for bidding in the IPO. A discount of Rs.186 per share will be available. Let us inform you that this is a book built issue IPO and its listing will be on BSE and NSE on the expected date.
Invest this amount and share in the profit
Under this IPO, a lot size of 7 shares is fixed, that is, any investor has to bid for at least this many shares. Now calculate according to the upper price band, then it will be Rs. 13,720 will be. That is, if you invest this amount and the IPO comes out, you will be a participant in the profits of this company from the day of listing itself. Retail investors can bid for a maximum of 14 lots and for this they have to invest Rs.1,92,080.
IPO will be fully OFS
Hyundai Motors India has already clarified in the draft red hearing prospectus (DRHP) submitted to SEBI that Hyundai will not issue new shares. The South Korean source company will sell part of its stake in the wholly-owned unit to retail and other investors through an ‘offer for sale’, i.e. the Hyundai Motors IPO will be a fully OFS issue. Prior to launch, Hyundai Motors India’s IPO was trading at Rs 65 on the grey-market.
(Note- Before investing money in any IPO, be sure to take advice from your market expert.)
