Mumbai: Hyundai Motor India announced price band of Rs 1865 to Rs 1960 per equity share of Rs 10 face value for the initial public offering that opens for bidding next week. The public issue aiming to raise Rs 27,856 crore at the upper price band is entirely an offer for sale by the promoters of the company.
The largest ever IPO in the Indian marketand also biggest IPO globally for 2024 opens on Oct. 15 and closes on Oct.17.
It's after decades that car manufacturer will be launching its IPO in the Indian market.
The anchor book for qualified institutional buyers will open on Oct.14, 2004.
Retail investors can apply for minimum 7 shares for Rs 13,720.
Of total shares on offer 35 per cent is reserved for retail individual investors, 15 per cent for high net worth individuals and remaining 50 per cent for qualified institutional buyers.
Shares reserved for employees worth over Rs 131 to Rs 138 crore atwill be allocated at a discount of Rs 186 per equity share.
The company is likely to debut on stock exchanges on Oct. 22, 2024 and will have at market capitalisation of over Rs 1.51 lakh crore to over Rs 1.59 lakh crore.
