Hyundai Motor India IPO: GMP, price, review, other details. Apply or not as upcoming IPO opens next week?

Hyundai Motor India IPO: The Initial Public Offering (IPO) of Hyundai Motor India Limited is set to hit the Indian primary market next week. As per the Hyundai Motor India IPO date, the public issue will open on 15th October 2024 and will remain open until 17th October 2024. This means the most significant Indian public issue will remain available for bidding from Tuesday to Thursday next week. India’s second-largest OEM company has set Hyundai Motor India’s IPO price at ₹1865 to ₹1960 per equity share. The auto OEM company aims to raise ₹27,870.16 crore from this public offer, a 100% Offer for Sale (OFS). The book build issue is proposed for listing on the BSE and NSE. According to stock market observers, shares of the auto company are available at a premium of ₹74 in the grey market today.

Hyundai Motor India IPO details

1] Hyundai Motor India IPO GMP today: According to stock market observers, shares of the company are available at a premium of ₹74 in the grey market today.

2] Hyundai Motor India IPO price: The auto OEM company has a fixed price band for the public issue, at ₹1865 to ₹1960 per equity share.

3] Hyundai Motor India IPO date: The public issue will open on 15th October 2024 and will remain open until 17th October 2024.

4] Hyundai Motor India IPO size: The auto OEM company aims to raise ₹27,870.16 crore from this public offer, which is a 100% Offer for Sale (OFS).

5] Hyundai Motor India IPO lot size: A bidder can apply for the public issue in lots, and one lot of the public offer comprises 7 company shares.

6] Hyundai Motor India IPO allotment date: The most likely date for share allocation is 18th October 2024, i.e., Friday next week.

7] Hyundai Motor India IPO registrar: KFin Technologies has been appointed official registrar of the book build issue.

8] Hyundai Motor India IPO lead managers: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited, and Morgan Stanley India Company Pvt Ltd have been appointed lead managers of the public offer.

9] Hyundai Motor India IPO listing date: The book build issue is expected to be listed on 22nd October 2024, by the ‘T+3’ listing rule.

Hyundai Motor India IPO: Apply or not?

10] Hyundai Motor India IPO Review: On whether one should apply for the public issue or not, Prashanth Tapse, Senior VP — of Research at Mehta Equities, said, “Given the trend-shifting dynamics in the Indian auto industry, I believe Indians have shifted from sub- ₹5-7 lac segment to ₹10-12 lac segment wherein Hyundai, TATA Motor along with M&M are better placed and have grabbed the market growth better than Maruti. In the last one-year, Maruti has continuously faced the heat of rising competition and witnessed market share decline, which is benefiting Hyundai Motor India, the second largest automaker in the country.”

Anand Rathi has given a ‘buy’ tag to the book build issue, saying, “At the upper band, the company is valuing at 26.2x its FY24 earnings along with being valued at 26.7x if we annualize FY25 earnings. Following the issuance of equity shares, the company’s market capitalization stands at ₹15,92,581 million, with a market cap-to-sales ratio of 2.28 based on its FY24 earnings. We believe the issue is fully priced and recommend a “Subscribe – Long Term” rating to the IPO.”

Arihant Capital Markets, Bajaj Capital, and ICICI Direct have also assigned a ‘subscribe’ tag to this upcoming IPO.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.