Hyundai Motor India’s Rs 25,000 crore IPO likley to open next week

The Rs 25,000 crore initial public offering (IPO) of Hyundai Motor India is expected to open for subscription next week on October 14, according to sources.

IPO Price Band
The sources have stated that the IPO price band is expected to be between Rs 1,865 to Rs 1,960 per share.

Company Valuation
At the upper end of the price band, Hyundai Motor India is likely to be valued at around Rs 1.6 lakh crore or $19 billion.

Listing Date
The shares are expected to be listed on the stock exchanges on October 22.

Offer Size
It will be a complete offer for sale (OFS) of upto 17.5% stake by parent Hyundai Motor Company. The company will not receive funds from the IPO.

Largest Auto IPO in decades
This will be the largest IPO in the auto sector in over 20 years since Maruti Suzuki listed in 2003. It comes at a time when the stock markets are seeing high valuations.

In summary, Hyundai Motor India's Rs 25,000 crore mega IPO is expected to open for subscription on October 14 and list on October 22. The price band is seen between Rs 1,865 to Rs 1,960 per share.