Today: 8 October 2025
16 October 2024
2 mins read

Hyundai IPO Off to a Quiet Start

The company plans to raise up to ₹27,870 crore, positioning it as the largest IPO in the Indian equity market since Life Insurance Corporation of India (LIC) raised ₹21,000 crore in 2022…reports Asian Lite News

The initial public offering (IPO) of Hyundai Motor India saw a lukewarm response from investors on Tuesday, with the issue subscribed 0.18 times or 18 per cent on Day 1 of the subscription. 

The company aims to raise up to Rs 27,870 crore, making it the largest-ever IPO of the Indian equity market history since 2022, when Life Insurance Corporation of India (LIC) raised Rs 21,000 crore.

It is open till October 17, and the IPO price band has been fixed at Rs 1,865- Rs 1,960 per share.

One lot of Hyundai Motor India’s IPO has seven shares. After the subscription window closes, the share allotment is expected to be finalised on October 18. The shares will be credited to demat accounts on October 21.

Hyundai Motor India shares are likely to debut on stock exchanges on October 22.

The maiden share sale will be a full offer for sale (OFS). It is the first offer from an automaker to list in India in over two decades and the entire proceeds will go to the promoter.

Hyundai Motor India raised approximately Rs 8,315 crore from anchor investors on Monday, ahead of its IPO. The company allotted 4.24 crore shares at Rs 1,960 apiece to 225 anchor investors, according to the company statement.

Hyundai Motor India held a 14.6 per cent market share in the domestic passenger vehicle (PV) market in Q1 FY25, second to Maruti Suzuki which has a 41 per cent share in this category. However, Hyundai Motor India is the market leader by volume in the mid-size SUV segment with around 38 per cent share as on June 2024. It is also India’s second-largest exporter of PV from April 2021 till June this year. In FY 2023-24, the company sold 7.77 lakh vehicles, of which 21 per cent was exported to countries like Africa, the Middle East, Europe and Latin America.

Hyundai Motor India has 1,366 sales points and 1,550 service outlets in India. The company’s revenue in the financial year (FY) 2023-24 was Rs 69,829 crore. During this period, the company made a profit of Rs 6,060 crore and the company’s margin was 13.1 per cent. India’s second-largest carmaker’s revenue in the first quarter of FY 2024-25 was Rs 17,344 crore. During this period, the company made a profit of Rs 1,489 crore and the margin was 13.5 per cent.

ALSO READ: ‘India’s Digital Push Expected to Add $900B’

ALSO READ: First ever Pak-Oman business meet held in Sultanate

Previous Story

120 countries participate in India Mobile Congress 

Next Story

India Ready to Lead in Telecom, Tech

Latest from Business

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s

Gold Shines Bright Amid Global Jitters

Gold and silver continued their bullish run on Monday, scaling new highs amid mounting global uncertainties, heightened geopolitical tensions, and growing expectations of a US Federal Reserve rate cut. According to the

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

India Inc Eyes Upswing

Private equity (PE) remained comparatively stable in Q2, clocking 357 deals worth $7.4 billion — the second-highest volume since Q4 2022. However, deal values dipped on a quarter-on-quarter basis due to the
Go toTop

Don't Miss

Salaries in India likely to rise 10.3% in 2023

Although slightly lower than last year, the projected increase continues

Cognizant braces for massive layoffs

IT giant will also reduce its real estate costs by