The IPO of South Korea's automobile company hyundai Motor india is expected to open on october 14. The company is preparing to raise Rs 25000 crore through IPO. hyundai Motor India's IPO will be bigger than the Rs 21000 crore IPO of the government sector insurance company LIC, which will prove to be the biggest IPO in the history of the indian stock market.
IPO will remain open from 14-16 October!
Stock market regulator SEBI has approved hyundai Motor, the country's second largest passenger car company in terms of market share, to bring an IPO. SEBI has issued an observation letter to hyundai Motor. hyundai Motor's IPO will open for subscription on Monday, october 14 and investors will be able to apply for the IPO till october 16. Next week, the company can announce the price band of the IPO.
Money will be raised through OFS
According to the draft paper filed by hyundai Motor with the regulator, the company will raise money in the IPO entirely through Offer for Sale. In this Offer for Sale, 142,194,700 shares will be offered by the promoter company hyundai Motor Company. According to the IPO price, hyundai Motor india is expected to get a valuation of 18-20 billion dollars. It is being estimated to be up to 28 billion dollars.
Hyundai's position after Maruti
hyundai Motor india was in second place after maruti Suzuki in terms of selling passenger vehicles. The company has about 15 percent market share in this segment. According to the value being estimated for the proposed IPO, hyundai Motor india will also surpass other listed automobile companies mahindra & mahindra, Bajaj Auto, hero MotoCorp, Eicher Motors in the domestic stock market. After ola Electric Mobility, hyundai is the second automobile company which is bringing its IPO in 2024.
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