Hyundai India’s IPO Aims to Further Indianise Operations

Hyundai Motor India Ltd, the Indian subsidiary of South Korean automaker Hyundai, is set to launch the country’s largest-ever initial public offering (IPO) on October 15. Hyundai IPO, valued at up to Rs 27,870 crore (approximately USD 19 billion), aims to deepen the company’s roots in India and capitalize on its strong market position.

According to Tarun Garg, COO of Hyundai Motor India, the IPO is a strategic move to further Indianize the company’s operations. “We have a very high market share in India and have been deeply embraced by the Indian people,” Garg said. “Hyundai IPO is an opportunity to invite local and global investors to be part of our growth story.”

The timing of the IPO is particularly opportune, given India’s robust economic growth and Hyundai’s expanding operations. The company recently acquired General Motors’ manufacturing plant in Pune, which will further boost its production capacity.

Garg emphasized that the IPO will not only raise capital but also enhance corporate governance and operational efficiency. “This IPO will help us align with global standards and further strengthen our position as a trusted brand in India,” he stated.

The decision to list Hyundai’s Indian subsidiary in India rather than other countries was driven by the company’s strong market presence and brand recognition. “We are the second-largest passenger vehicle manufacturer in India, and Hyundai has been very well-received by Indian consumers,” Garg explained.

The IPO is expected to surpass the previous record held by Life Insurance Corporation of India (LIC), which raised Rs 21,000 crore in May 2022.

Hyundai IPO will open for subscription on October 15, 2024 and closes on October 17, 2024. The IPO allotment is expected to be finalised on Friday, October 18, 2024. Hyundai Motor IPO will be listed on BSE, NSE with a tentative listing date as of October 22, 2024. The price band for Hyundai Motor IPO has been set at ₹1,865 to ₹1,960 per share. The minimum lot size for an application is 7 Shares. The minimum amount of investment required by retail investors is ₹13,720

As Hyundai Motors prepares for its stock listing, the Hyundai Motor Share Price is expected to draw attention from investors eager to see its post-IPO performance.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.