Hyundai Motor India IPO to open on October 15; check release price, lot size, other important details
Hyundai Motor India’s proposed initial public offering (IPO) will hit the streets on October 15. Under the auto major’s much-anticipated IPO, potential investors will be able to bid for Hyundai Motor India shares in a price band of Rs 1,865. -1,960 per equity share.
The IPO will be open for registration for three trading days until October 17, while bidding for active investors will take place on October 14.
Under the upcoming IPO, participants will be able to bid for shares of Hyundai Motor, part of the Hyundai Motor Group, in multiples of 7 shares, which means bidders will have to shell out Rs 13,055-13,720 per share.
The IPO consists of an offer for sale (OFS) of 14.2 crore Hyundai Motor India shares by the company’s promoter, Hyundai Motor Company. This means that the car maker will not get any profit from the sale.
Reservation of investors, Although up to 50 percent of the issue will be reserved for qualified institutional buyers, at least 15 percent will be for non-institutional investors (NIIs) and at least 35 percent for retail investors, according to the copany. herring prospectus.
Hyundai Motor India shares will be listed on BSE and NSE.
Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), JP Morgan India, and Morgan Stanley India Company are the leading book bearers on the issue.
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