Hyundai Motor India has proposed to open its initial public offering (IPO) of equity shares (“Offer") on Tuesday, October 15, 2024. The company stated that the Anchor Investor Bidding Date is one working day prior to Bid/Offer opening date, that is Monday, October 14, 2024. Meanwhile the Bid/ Offer closing date is Thursday, October 17, 2024.

Hyundai Motor India stated that the price band of the offer has been fixed from ₹1,865 per equity share to ₹1,960 per equity share. Bids can be made for a minimum of seven equity shares and multiples of seven equity shares thereafter. It is stated that the the company will offload up to 14,21,94,700 equity shares. The Equity Shares of our Company are proposed to be listed on BSE Limited (“BSE") and the National Stock Exchange of India Limited (“NSE", together with BSE, the “Stock Exchanges"). 

It was earlier reported that Hyundai Motor India is looking to raise ₹27,855 crore via IPO route, which will make it the biggest IPO of the Indian stock market. Hyundai’s advisers for the share sale are Kotak Mahindra Bank Ltd., Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co., and Morgan Stanley, according to the share sale document. 

In terms of financial performance, Hyundai Motor India posted strong results for the quarter ending June 30, 2024, recording a net profit of ₹1,489.65 crore and revenues totaling ₹17,567.98 crore. For the full fiscal year ending March 31, 2024, the company reported an impressive net profit of ₹6,060.04 crore on revenues of ₹71,302.33 crore, underscoring its robust position in the Indian auto market.

Hyundai Motor India

Headquartered in Chennai, Hyundai Motor India was established in May of 1996. Since then it has grown on to become one of the leading passenger vehicle makers in the country. Beyond its assembly lines for cars, Hyundai Motor India also manufactures critical automotive components such as transmissions and engines, strengthening its position as a comprehensive automotive operation.

While relatively unknown in a very small market at the time, HMIL managed to establish a firm footing by establishing a factory in Tamil Nadu and targeting the small-car segment, driving out the Santro which was launched in September of 1998. Such was the success of the model that it catapulted HMIL to the position of country's second-largest car manufacturer.

Over the past several years, Hyundai has also managed to become the country's largest exporter of cars and has diversified its portfolio for the domestic market. So while the likes of Santro, i10 and Accent no longer exist, there is a firm focus on SUVs.

The company currently offers a wide range of four wheelers in the Indian market comprising of hatchbacks, sedans and SUVs both with internal combustion engines and electric powertrain. The lineup includes Grand i10 NIOS, i20, i20 N Line, Aura, Exter, Venue, Venue N Line, Verna, Creta, Creta N Line, Alcazar, Tucson, and the Ioniq 5 electric SUV.

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