Hyundai Motor India Limited (HMIL) is gearing up for its initial public offering (IPO), scheduled to open on October 15, 2024. The company has established a price band ranging from ₹1,865 to ₹1,960 per equity share, with bidding available in multiples of seven shares. Anchor investor bidding will take place on October 14, just one day before the public offering commences.
The IPO consists of an offer for sale of up to 142,194,700 equity shares by Hyundai Motor Company, the promoter selling shareholder. Notably, HMIL will not receive any proceeds from this sale, reflecting a strategic focus on shareholder value.
From an industry perspective, the Siliguri is witnessing a robust growth trajectory, fueled by rising consumer aspirations and expanding transportation networks. As the city becomes a vital trade hub, demand for reliable vehicles is increasing significantly. Hyundai’s IPO could strengthen its foothold in Siliguri, where residents are increasingly investing in personal vehicles for enhanced mobility and convenience. Investors are encouraged to consult the Red Herring Prospectus (RHP) filed with the Registrar of Companies (RoC), available on the SEBI and stock exchange websites, to better understand the associated risks before making investment decisions.
