NE BUSINESS BUREAU
AHMEDABAD/CHENAI, OCT 10
Korean-origin auto major Hyundai Motor India Limited, a part of the Hyundai Motor Group, which is the third largest auto OEM in the world based on passenger vehicle sales in CY2023, according to the CRISIL Report, proposes to open its ₹27,870.16 crore initial public offering of Equity Shares on Tuesday, October 15, 2024 (https://investmentbank.kotak.com/downloads/hyundai-motor-india-limited-RHP.pdf). The Anchor Investor Bidding Date is one Working Day prior to Bid/Offer Opening Date, being Monday, October 14, 2024. The Bid/ Offer Closing Date is Thursday, October 17, 2024.
The Price Band of the Offer has been fixed from ₹1,865 per Equity Share to ₹1,960 per Equity Share. Bids can be made for a minimum of 7 Equity Shares and multiples of 7 Equity Shares thereafter.
- Price Band fixed at ₹1,865 per equity share to ₹1,960 per equity share of the face value of ₹ 10 each
- Anchor Investor Bidding Date – Monday, October 14, 2024
- Bid /Offer Opening Date – Tuesday, October 15, 2024, and Bid/ Offer Closing Date – Thursday, October 17, 2024
- Bids can be made for a minimum of 7 Equity Shares and in multiples of 7 Equity Shares thereafter
The Company’s initial public offering comprises an offer for sale of up to 142,194,700 Equity Shares by Hyundai Motor Company.
The Company will not receive any proceeds from the offer.
Incidentally, this is the first IPO of a carmaker in more than two decades after Maruti Suzuki’s listing in 2003.
It will be India’s biggest primary offering, ranking LIC and Paytm as second and third, respectively.
The company’s Chief Operating Officer (COO), Tarun Garg, said that the carmaker has been successful in India for more than 26 years. He also said that Hyundai Motor India enjoys a strong advantage due to access to its parent company’s technologies.
Garg said that the company is looking to launch the electric model of Creta in the fourth quarter of the financial year 2024-25 (FY25).
Established in May 1996, Hyundai Motor India Limited operates as a division of the Hyundai Motor Group, which ranks as the third largest auto original equipment manufacturer (OEM) globally in terms of passenger vehicle sales. The organisation produces and markets technologically advanced, dependable, and feature-packed four-wheeler passenger vehicles, as well as components like engines and transmissions. Located near Chennai, the company’s manufacturing facility has the capacity to manufacture its entire range of vehicle models.
The company produces and markets passenger vehicles with four wheels, which encompass sedan, hatchback, SUV, and electric vehicle (EV) models.
Among the company’s offerings are the Grand i10 NIOS, i20, i20 N Line, AURA, Elantra, Venue, Venue N Line, Verna, Creta, Creta N Line, Alcazar, Tucson, and the all-electric SUV Ioniq 5.
The company ships its products to Africa, the Middle East, Bangladesh, Nepal, Bhutan, and Sri Lanka. As of March 31, 2024, the company has vended nearly 12 million passenger vehicles in India and via exports.
The company expects that listing shares “will enhance our visibility and brand image and provide liquidity and a public market for the shares”.
The Equity Shares of our Company are proposed to be listed on BSE Limited and the National Stock Exchange of India Limited.
Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited are the Book Running Lead Managers to the Offer.
CHENNAI
Announcing the IPO in Chennai, Mr. Unsoo Kim, Managing Director, Hyundai Motor India Limited (HMIL) said as part of its strategy, HMIL is planning to launch 4 models of Electric Vehicles during the 4th quarter of the current fiscal.
