Hyundai Motor India Limited (HMIL), a key player in India’s automotive industry since 1996 and the second-largest car manufacturer, is launching an IPO in 2024. This move is generating excitement among Indian investors. To apply for the IPO, a trading and demat account is required, and Samco Securities offers an easy-to-use platform for IPO investing. Investors are keen on Hyundai’s IPO due to its market-leading position and robust export operations, making it an attractive opportunity.
Hyundai’s decision to launch an IPO after 25 years in India is a strategic move. A successful IPO would provide the company more independence while helping its South Korean parent monetise assets. If you’re considering investing in this major Diwali 2024 IPO, here’s a brief overview of its key aspects.
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Hyundai IPO Date 2024 Launch
As per Hyundai India’s final Red Herring prospectus (RHP) the IPO will be open for subscription from October 15 to 17, 2024 share allotment and credit to demat accounts are expected by October 21, with the listing on NSE and BSE Scheduled for October 22, 2024. -
Issue Pricing
Now that you know the Hyundai IPO dates for 2024, let’s look at the pricing. On October 9, 2024, Hyundai Motor India announced a price band of Rs. 1,865 to Rs. 1,960 per share for its book-built IPO. With a face value of just Rs. 10 per share, this sets a significant premium and places the company’s price-to-earnings (P/E) ratio at approximately 26.28. -
Issue Size
The upcoming Hyundai IPO is an Offer for Sale (OFS) by its South Korean parent company, Hyundai Motor Company, aiming to sell up to 14.22 crore shares. This sale could generate around Rs. 27,870.16 crore, making it India’s largest-ever IPO. Despite selling 17.50% of its stake, the parent company will retain 82.50% ownership in Hyundai Motor India Limited post-issue. -
Other Details
The minimum lot size for Hyundai’s 2024 IPO is 7 shares, meaning investors can apply in multiples of 7. Retail investors can bid for up to 14 lots (98 shares) at the upper price of Rs. 1,960. Additionally, Hyundai has reserved 7,78,400 equity shares for its permanent employees, offering them a Rs. 186 per share discount as per the Red Herring Prospectus.
How to Invest in the Hyundai IPO?
If you are interested in the upcoming Hyundai Motor India Limited public issue, here is a step-by-step process detailing how you can invest in it.
According to SEBI regulations, a demat account is mandatory for investing in the Indian stock market. To invest in Hyundai India’s upcoming Diwali 2024 IPO, your first step is to open a demat account. With Samco Securities, you can quickly open a trading and demat account through an easy online process.
In India, all IPO applications now require investors to set up a UPI auto-debit mandate for the total amount corresponding to the number of lots applied for. Once the mandate is activated, the required funds are locked in the bank account and remain unusable until the process is complete
Investors with successful allotments will have the funds automatically debited from their accounts while those without shares will have the If you have opened a trading and demat temporary hold on their funds released.
To apply for Hyundai India’s public issue, log into your stockbroker’s trading portal, go to the IPO section, and select Hyundai Motor India Limited from the list of available issues.
After selecting the IPO, fill out the application by entering the number of shares you wish to apply for and your bid price within the specified range. Before submitting, confirm your demat account number and other important details.
After submitting the IPO application, a UPI mandate request will be generated. Authorize the mandate through a UPI app on your smartphone to complete the application process.
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