(Image source from: Timesofindia.indiatimes.com)
Hyundai Motors India is about to launch the largest initial public offering (IPO) India has ever seen.
When Can You Invest?: The IPO opens for subscription from October 15 to October 17, 2024.
Why Is This IPO Special?
Record-Breaking Size: Hyundai's IPO is set to raise up to a whopping Rs 27,856 crore, surpassing the previous record held by LIC's Rs 21,008 crore offering in 2022.
Automotive Milestone: This is the first major automaker to go public in India since Maruti Suzuki's listing way back in 2003. It's a rare chance to invest in a top player in India's booming car market.
What's the Price?
Hyundai has set the price band at Rs 1,865-1,960 per share.
How Can You Participate?
* Retail Investors: 35% of the offer is reserved for you.
* Qualified Institutional Buyers: 50% is set aside for big players.
* Non-Institutional Investors: The remaining 15% is up for grabs.
* Hyundai Employees: There's a special allocation of up to 7,78,400 shares at a discounted price of Rs 186 per share.
Key Dates to Remember:
* Anchor Investor Bidding: October 14, 2024
* IPO Subscription: October 15-17, 2024
* Allotment Finalization: Expected by October 18, 2024
* Listing Date: Tentatively set for October 22, 2024 on both NSE and BSE
Why Consider Investing?
* Market Position: Hyundai is India's second-largest carmaker by sales volume, right behind Maruti Suzuki.
* Strong Financials: The company reported impressive revenues of Rs 60,000 crore and profits of Rs 4,653 crore in FY23.
* Growth Potential: India's automotive market is booming, and Hyundai is well-positioned to capitalize on this growth.
