Hyundai Motor India Ltd formally launched its much-awaited Initial Public Offering or IPO which promises to become the largest in India’s history. This IPO opens for subscription today, October 15, 2024, and will close on October 17, 2024. The company has fixed the price band at ₹1,865 to ₹1,960 per share. The amount that it is raising has been worked out to be about ₹27,870.16 crores through an all-OFS by the promoter company – Hyundai Motor Company in 14.22 crore shares.
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Hyundai Motors IPO: All Details
Price Band : ₹1,865 – ₹1,960 per share
Minimum Lot Size: 7 shares
Minimum Investment: ₹13,720 for a retail investor
The size of issue: ₹27,870.16 crores
Online subscription dates– 15-Oct-2024 to 17-Oct-2024
Date of Allotment: 18-Oct-2024
Date of Expected Listing: 22-Oct-2024
Though large, the IPO is also important in nature due to Hyundai’s strategic move to gain deeper rootage in India. The company has been one of the top players in the Indian automotive market and will use this IPO to enhance its operational capabilities and governance standards.
What does an OFS stand for?
An OFS facilitates existing shareholders to offer their shares directly to the public without issuing new shares. In this process, though the company does not raise fresh capital, it will certainly provide liquidity to the existing shareholders. The strategy, in this case, for Hyundai, showcases that the company believes in the Indian market and sustains its growth over an extended period of time.
Angel One Share Price Update
As of October 15, 2024, the stock of Angel One was trading at ₹3,242.15. This reflects an incredible rise of 19.12% over its previous close. The upward movement assures that investors have full confidence in the performance of the company and, hence, the market is positive about it as well. The last closing was done at ₹2,721.75 on October 14. In the recent past, it has touched an intraday high of ₹2,830.
Current Performance Indicators
Current Share Price: ₹3,242.15
Market Capitalization: ₹24,536.85 crores
52-week High/Low: ₹3,900.35 / ₹2,027.25
Angel One’s stock has seen severe price fluctuations in the last year but has now started moving in a positive direction as a series of positive market actions have started favoring the investors.
Market Sentiment and Future Outlook
The IPO of Hyundai is launched while India’s economy witnesses a strong growth phase. “It’s more than just a financial maneuver; it’s an opportunity to invite local and global investors into our growth narrative,” says Tarun Garg, COO of Hyundai Motor India.
Indian automotive industry is the sector that is likely to grow in the short term and demand for electric vehicles (EVs) and sustainable practices increases. Hyundai’s investment in EV manufacturing infrastructure will further cement its position as an innovative leader in India.
Risks to Consider
The prospects are somewhat encouraging, yet one needs to be aware of the risks arising from the market dynamics as well as operational difficulties in the automobile industry. These have to be specifically considered in making investment decisions.
Conclusion
Hyundai Motor India today opened its IPO, with a strong strategy about corporate governance improvement in capitalizing upon the growing demand in the Indian automotive market. Under such rising prospects of shares under Angel One as the investors look up to this milestone in India’s financial scenario, this is an even bigger optimism about future growth opportunities for both the automobile industry and the stock market as a whole.
The IPO will attract investors only because the subscription period is short. Hyundai has an established brand presence along with strategic growth initiatives, making this one of the largest issues to hit Indian financial circles recently.
Read this also: Tata Group Plans to Produce 500,000 Manufacturing Jobs Within 5 Years: N Chandrasekaran Says
This text is written by KASHAF MUHAMMAD
