Hyundai India IPO: Today is the second day of Hyundai India IPO, know how much and till when you can bid…

Hyundai India IPO: Today i.e. 16th October is the second day of Hyundai India's Initial Public Offer i.e. IPO. This IPO has been subscribed only 18 percent so far. Investors will be able to bid for this issue till October 17.

The company's shares will be listed in the market on October 22. The company has fixed its price band at Rs 1,865-1,960. For this a bid of at least Rs 13,720 will have to be made.

The company wants to raise Rs 27,870 crore through this IPO. This issue of Hyundai Motor India can become India's biggest IPO till date. Till now this achievement is in the name of Life Insurance Corporation of India (LIC), which has brought an IPO of Rs 21,000 crore in 2022.

Under this IPO, new shares will not be issued, rather the promoters of the company will sell 14.22 crore existing shares through Offer for Sale (OFS). According to the company, 14.22 crore equity shares of face value of Rs 10 will be listed in the Indian stock markets.

Will have to invest at least Rs 13,720

Investors can invest in Hyundai Motor's IPO in the price band of ₹ 1865-₹ 1960 and in lots of 7 shares. According to this, bidding on the upper band will require an investment of at least Rs 13,720. Hyundai employees will get a discount of Rs 186 on each share.

50% of the issue is reserved for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII) and 35% for retail investors. The allotment of shares under IPO will be finalized on October 18. Then it will enter BSE and NSE on 22 October.

Hyundai Motor India will be the fourth largest listed auto company

Hyundai Motor India will be the fourth largest company to be listed in the stock market. It will be the fourth largest automobile company after Maruti-Suzuki, Tata Motors, Mahindra & Mahindra. After Maruti, Hyundai Motor India is the second largest car company in the country.