Hyundai India’s IPO: Fresh Details Out Before 15th October Launch
Reports about Hyundai Motor India Limited preparing to make its mark in the Indian stock market have been in the news for quite some time. The manufacturer had confirmed reports about its upcoming Initial Public Offering (IPO). We now have new reports that give us more clarity on this topic. As per the recent reports that have surfaced online, Hyundai will be launching its IPO on 15th October 2024.
The South Korean car manufacturer will be selling its shares in a range that starts from Rs 1,865 to Rs 1,960, and the IPO consists of an offer for the sale of 142,194,700 equity shares. With Hyundai launching its IPO this month, it will be India’s biggest primary offering, ranking LIC and Paytm as second and third, respectively. Hyundai would also be the first automaker to launch an IPO in India in the last 20 years. The manufacturer currently aims to raise a total of Rs 27,856 crores through its initial stake sale.
The proceeds from the sale of the equity shares would not be received by the company but would benefit the promoter. Hyundai is taking this step in accordance with Rule 19(2) of The SEBI regulations. The company’s shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). The bidding process for anchor investors will commence on 14th October, one day before the official launch of the IPO.
With the launch of the IPO, Hyundai has made a significant move. This step is expected to be extremely important in its business strategy as the company is currently looking for different ways to strengthen its financial structure. The company is expected to continue focusing mainly on the manufacturing, sales, and service of its new models.
Upcoming Hyundai
The latest Hyundai to be launched in the Indian market was the Alcazar facelift. It is a premium SUV that was launched a few weeks ago. It features a redesigned exterior and premium interiors with more features than ever before. Other than the recently launched Alcazar SUV, Hyundai is also working on an electric SUV for India.
It is, in fact, an electric version of their popular mid-size SUV, the Creta. The Creta Electric or Creta EV has been spotted testing in India several times. The electric version of the Creta is expected to have similar styling to the ICE version, with EV-specific changes. It will be a front-wheel-drive EV, and the SUV is expected to be launched in the market next year.
Tucson Facelift
Hyundai is expected to launch the facelifted version of their current flagship SUV, the Tucson, in the Indian market. The SUV is expected to be launched next year and will likely use the same 2.0-liter petrol and 2.0-liter diesel engines as the current version.
Ni1i Hybrid SUV
The Ni1i SUV will be the first 7-seater SUV from Hyundai to get a hybrid powertrain in India. It will sit below the current flagship Tucson. The SUV is expected to be launched in the next 24-30 months.
Next-gen Venue
Hyundai will also be launching the next-generation of their popular sub-4-meter SUV, the Venue, in the market. The next-gen Venue is expected to be launched by late 2025.