Hyundai Motor India is set to open its much-anticipated Initial Public Offering (IPO) in November 2024, offering investors the opportunity to buy into one of the country’s leading automobile manufacturers. This is a Book Built Issue, and the company plans to raise around ₹25,000 crores through the offering.
The IPO will consist of a fresh issue with an Offer for Sale (OFS) of up to 142,194,700 equity shares, each with a face value of ₹10. Investors should watch for the finalization of the price band.
IPO Quota and Listing Details:
The retail investors’ quota is set at 35%, while Qualified Institutional Buyers (QIBs) will be allocated 50%. High Net-Worth Individuals (HNIs) will have a 15% share of the total offering. Once the process is completed, the company’s shares will be listed on both the BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).
Financial Performance
In the fiscal year 2023, Hyundai Motor India reported a significant jump in its revenue, reaching ₹61,436.64 crores, compared to ₹47,966.05 crores in 2022. Additionally, the company saw its profit surge to ₹4,709.25 crores in 2023, up from ₹2,901.59 crores the previous year, highlighting strong growth and robust performance in the Indian automotive sector.
This IPO marks a significant milestone for Hyundai Motor India as it seeks to further expand its market presence and continue its growth trajectory in the automotive industry. Investors looking to capitalize on the growing demand for automobiles in India may find this offering particularly attractive.