Hyundai Motor India Limited plans to launch its initial public offering (IPO) of equity shares on October 15, 2024, with an anchor investor bidding starting a day earlier. The price range for the shares is set between Rs 1,865 and Rs 1,960, with a minimum bid of 7 shares.
The IPO involves an offer for sale of up to 142,194,700 shares by Hyundai Motor Company, the promoter. The company will not receive any proceeds from this offering, which will be conducted under regulations that allocate shares to various investor categories, including qualified institutional buyers, non-institutional investors, and retail investors.
The shares are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The book running lead managers for the IPO include major financial institutions such as Kotak Mahindra and Citigroup.
