Hyundai Motor India will launch its Initial Public Offering (IPO) on Tuesday, 15th October, and close on Thursday,17th October, reportedly the largest IPO on the Indian stock exchange.
IPO Launch Date and Price Band
The Hyundai IPO will open on the 15th of October 2024. The IPO will close on October 17th. Details on the allocation of anchor investors to the Hyundai Motor IPO will be out on Monday, October 14, The price band range has been set at Rs 1,865 to Rs 1,960 per share. Investors are allowed to apply for at least seven equity shares, and then multiples of them.
Issue type size:
Hyundai Motor Company, its South Korean parent, is offering up to 14,21.94.700 equity shares in the IPO of Hyundai Motor Company India. The company wants to raise Rs 27,856 crore via its IPO.
Valuation
The Upcoming Hyundai IPO, scheduled for 15th October 2024, is gaining a lot more attention because of its revised valuation. The company's value is Rs. 1.59 lakh crore which is approximately $19billion. It was previously estimated to be worth Rs 1,5 lakh crore, or $ 18 billion. The increase in value is a testament to Hyundai's strong position in the market. This is due to its successful car models, and plans for future growth, particularly in electric vehicles. This IPO is even more attractive to investors who are looking for great opportunities because of its higher valuation.
Allocation :
Hyundai India IPO will be held on October 15, 2024. 7,784,400 equity shares will be allocated to eligible employees, who will get a Discount of Rs 186/share. 50% of the total offer is reserved for Qualified Institutional Bidders (QIBs), 15% goes to Non-Institutional Investors (NIIs), and the remaining 35% is reserved for retail investors. This ensures a balanced distribution across different investor categories.
Latest GMP
The GMP (Grey Market Premium) of the Hyundai India IPO has fallen to Rs. 111 per share. This is a significant drop compared to Rs. 270 just a few days ago and Rs 400 at the beginning of October. Despite the decline, investors are still expected to make modest gains of around 6%, reflecting the fluctuating sentiment in the market.
Important Dates
The following are the important dates of the upcoming Hyundai India IPO: the allotment will occur on October 18, 2024, and the refund process is expected to be complete by Monday, October 21, 2024. The shares will be listed on the bourses on Tuesday, October 22. This marks the official debut of the IPO.
Final Thoughts:
Hyundai India IPO looks set to be among the most anticipated IPOs in 2024. This IPO is a great opportunity for investors who want to be a part of a world-class automobile company. It offers a strong market presence, solid financials, and future growth plans. The IPO will open on the 15th of October, and close on the 17th. Stay informed on the price range and other details so that you don't lose out on this great investment opportunity.
The upcoming Hyundai IPO , as well as other IPOs, offers excellent investment opportunities for those who are interested in the stock exchange. Hyundai's IPO is a good investment for any investor, whether you are a seasoned one or a novice
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