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The offering received bids for 1.77 crore shares against 9.97 crore shares on offer.
Hyundai Motor India’s initial public offering (IPO) received 1,77,89,457 shares bid against 9,97,69,810 shares on offer, according to stock market data as of 5:00 p.m. IST on Tuesday (October 15, 2024). The issue was subscribed 0.18 times.
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The issue was opened for bidding on October 15, 2024 and will close on October 17, 2024. The price band for the IPO has been fixed between Rs 1865 and 1960 per share. An investor can bid for a minimum of 7 equity shares and in multiples thereof.
The IPO fully comprises an offer for sale of 14,21,94,700 shares aggregating up to Rs 27,870.16 crore by Hyundai Motor Company.
The offering proceeds will not be received directly and the entire offering proceeds will be returned to the selling shareholders, distributed pro rata to the shares sold by them.
Hyundai Motor Company is the promoter. The promoters and promoter group hold 81,25,41,100 shares, totaling 100% of the issued and paid-up share capital before the offer. Their post-IPO stake is expected to be around 82.5%.
Ahead of the IPO, Hyundai Motor India on Monday, October 14, 2024, raised Rs 8,315.28 crore from anchor investors. The board allotted 4.24 crore shares at Rs 1,960 each to 225 anchor investors.
Hyundai Motor India is part of the Hyundai Motor Group, which is the third largest automotive original equipment manufacturer (OEM) in the world based on passenger vehicle sales during the year 2023. Manufactures and sells Reliable, feature-rich and innovative four-wheel passenger vehicles backed by the latest technology. Additionally, parts such as transmissions and engines are also manufactured.
The company offers 13 models in several passenger vehicle segments by body type, such as sedans, hatchbacks, sport utility vehicles (SUVs), and battery electric vehicles (EVs). SUVs make up a significant portion of its passenger vehicle lineup, accounting for 67.41% of the total domestic sales volume in the first quarter of FY2025.
The company reported consolidated net profit of Rs 1,489.65 crore and sales of Rs 17,344.23 crore for the quarter ended June 30, 2024.
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First publication: October 15, 2024 | 5:14 p.m. STI