New Delhi, October 8
The much-awaited public issue of Hyundai Motor India will be up for subscription starting October 15, its red herring prospectus showed on Tuesday.
The IPO will open for subscriptions for big institutional investors on October 14.
The issue price for the Hyundai India public issue however could not be immediately known. The issue price is the price at which the shares are first sold to investors in an IPO.
The Initial Public Offering (IPO) of Hyundai Motors India has sparked significant interest in the Indian markets, particularly at a time when the IPO market is booming.
Hyundai Motor Company, the parent firm based in South Korea, is set to offload shares worth about Rs 25,000 crore through an Offer for Sale (OFS) in the Indian market.
Hyundai Motor Group, which includes both Hyundai and Kia, is the third-largest automaker globally, having sold 7.3 million vehicles in 2023.
As per reports, the India IPO will be Hyundai's first stock market listing outside South Korea, besides marking the first carmaker to go public in two decades since Maruti Suzuki.
Taking opportunities out of India's booming stock market, many companies intended to list their shares, and a sizable number of them have made handsome gains.
Initial public offering (IPO) refers to the process where companies sell their shares to the public to raise equity capital from the investors.