Hyundai IPO, India’s largest ever, opens for subscription

Hyundai Motor India has made a huge impact with its mega Initial Public Offering (IPO), which is the largest ever in India at ₹27,870 crore and the second largest in the world in 2024. The IPO is entirely an offer-for-sale by the promoter Hyundai Motor Company, with no fresh issue component. Hyundai raised ₹8,315 crore from anchor investors, including major funds like New World Fund Inc and BlackRock Global Funds. The public subscription for the IPO is open until October 17, with a price band of ₹1,865 – ₹1,960 per share. This marks a significant milestone for the Indian capital market and the automotive industry.