Hyundai IPO Subscription Day 3 Live: Today is the last date for subscribing the Hyundai Motor India Limited IPO. The eagerly awaited mainboard initial public offering (IPO) of Hyundai Motor India was open for subscription on October 15. The shares of the automotive giant will be listed on D-Street on October 22, 2024.
Hyundai Motor India’s IPO is set to be the largest in India, exceeding the Rs 21,000 crore IPO of the Life Insurance Corporation (LIC) from May 2022. It will also rank among Asia’s largest recent IPOs. The price band for the offering is established between Rs 1,865 and Rs 1,960 per equity share, with a face value of Rs 10. The upper price is at least 105 per cent of the lower price and no more than 120 per cent of it.
HMI operates in a fiercely competitive market, and both Hyundai and its larger competitor, Maruti, have seen their volume market shares steadily decline over the past five years. Additionally, the IPO price offers limited valuation appeal when compared to Maruti, which has nearly three times the PV market share, two-and-a-half times the sales volume, and comparable profitability.