Mumbai | October 09, 2024: Hyundai Motor India Limited, a major player in the global automotive market and part of the Hyundai Motor Group, is set to launch its highly anticipated Initial Public Offering (IPO) on October 15, 2024. The company has fixed the price band between ₹1,865 and ₹1,960 per equity share, each valued at ₹10.
Key Details of the IPO:
- Anchor Investor Bidding: Scheduled for Monday, October 14, 2024, one working day before the official opening.
- Bid/Offer Opening: Begins Tuesday, October 15, 2024.
- Bid/Offer Closing: Closes on Thursday, October 17, 2024.
Investors can place bids starting at a minimum of 7 equity shares and in multiples of 7 thereafter. The IPO will offer up to 142,194,700 equity shares for sale by Hyundai Motor Company, the promoter and selling shareholder. Notably, the proceeds from this sale will not go to the company but to the promoter.
Allocation and Participation Details:
The offer is being conducted under Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, alongside SEBI’s ICDR regulations, utilizing a book-building process:
- Qualified Institutional Buyers (QIBs): Up to 50% of the net offer is available for QIBs, with a possibility of 60% being allocated to Anchor Investors.
- Non-Institutional Investors (NIIs): A minimum of 15% of the offer is designated for this category, subdivided into applications of different sizes.
- Retail Investors: At least 35% of the offer is reserved for retail investors.
Additionally, eligible employees have a reserved portion, and shares will be allocated on a proportionate basis, depending on bid validity and offer price compliance. All investors, excluding anchor investors, must apply through the ASBA process, requiring bank account details to block bid amounts.
Listing and Lead Managers:
The equity shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The IPO will be managed by Kotak Mahindra Capital, Citigroup Global Markets, HSBC Securities, J.P. Morgan India, and Morgan Stanley India as the book-running lead managers.
For complete details, the red herring prospectus (RHP) can be accessed here. Further information is available in the “Financial Express” newspaper, dated October 09, 2024.
