The date for India’s largest IPO has been announced. Hyundai’s IPO, worth around ₹25,000 crores, will open on October 14 and will close on October 17.
The price for each share is expected to be between ₹1,865 and ₹1,960.
After this IPO, Hyundai’s valuation is anticipated to reach $19 billion, which is approximately ₹1.6 lakh crores. Investors have been eagerly waiting for this IPO.
Launch Date and Pricing
According to Reuters, Hyundai Motor India’s IPO will be open for large institutional investors starting October 14.
For retail and other investors, it will be available from October 15 to October 17.
While the sources remain unnamed, they confirmed the expected price range of ₹1,865 to ₹1,960 per share.
If priced at the upper limit, the company’s valuation would be around $19 billion. The stock is set to be listed on the exchange on October 22.
Significance of the IPO
This IPO is significant for two reasons. First, it marks Hyundai Motors’ first IPO outside of South Korea.
Second, it is the first car company’s IPO in India since 2003, when Maruti Suzuki was last listed, making it a noteworthy event in the market.
Expected Response from Investors
Experts believe that Hyundai’s IPO is likely to receive a strong response. Recent IPOs have performed well, and there are high expectations for Hyundai’s offering.
For instance, when LIC’s IPO was launched, it attracted a lot of interest, although its market listing did not perform as expected.
It will be interesting to see how Hyundai’s IPO is received in the market.
