India News Get -BusinessHyundai India IPO Subscription Status Update; Price Band, Lot Size, GMP | Registration date
Today i.e. October 16 is the second day of Hyundai India’s initial public offering i.e. IPO. This IPO has only been 18% subscribed so far. Investors will be able to bid on this issue until October 17. The company’s shares will be listed on the market on October 22. The company has set its price range between Rs 1,865 and Rs 1,960. For this, an offer of at least Rs 13,720 will have to be made.
The company aims to raise Rs 27,870 crore through this IPO. This issue of Hyundai Motor India could become the largest IPO in India to date. So far, this achievement is in the name of Life Insurance Corporation of India (LIC), which had brought an IPO worth Rs 21,000 crore in 2022.
As part of this IPO, new shares will not be issued, but the company’s promoters will sell 14.22 crore existing shares through an offer for sale (OFS). According to the company, 14.22 crore shares of face value of Rs 10 each will be listed on Indian stock exchanges.
The minimum investment must be Rs 13,720
You will be able to invest in Hyundai Motor IPO in the price range of ₹1865 to ₹1960 and in lots of 7 shares. So, if you bid on the upper tranche, you will have to invest a minimum of Rs 13,720. Hyundai employees will get a discount of Rs 186 on each share.
50% of the issue is reserved for qualified institutional buyers (QIB), 15% for non-institutional investors (NII) and 35% for retail investors. The allocation of shares in the IPO will be final on October 18. Then there will be entry on BSE and NSE on October 22.
Hyundai Motor India will become the fourth listed automaker
Hyundai Motor will be the fourth largest company listed on the Indian stock exchange. It will be the fourth largest automobile manufacturer after Maruti-Suzuki, Tata Motors, Mahindra & Mahindra. Hyundai Motor India is the second largest automobile manufacturer in the country after Maruti.
First IPO of an automaker in India in 20 years
The IPO is the first IPO of an automaker in India in 20 years. Previously, the IPO of Maruti Suzuki took place in 2003. Hyundai is the second largest automobile manufacturer in the country after Maruti Suzuki India.
Hyundai’s share of 14.6% in the domestic market Hyundai Motor India is the country’s second-largest original equipment manufacturer (OEM) and second-largest exporter of passenger vehicles. It has a 14.6% share of the domestic market. In September, it sold 64,201 vehicles, 10% less on an annual basis. So far this year 2024, the company has sold 5.77 lakh vehicles, which is almost flat on an annual basis.
Talking about the financial health of the company, it made a net profit of Rs 29.02 crore in FY 2022, which jumped to Rs 47.09 crore in the next FY 2023 and reached Rs 60 .60 crore in FY 2024. During this period, the company’s revenues grew at a compound growth rate (CAGR) of over 14% per annum to reach Rs 713.02 crore. Talking about the current financial year 2024-25, it made a net profit of Rs 14.90 crore and a turnover of Rs 175.68 crore in the first quarter April-June 2024.