Hyundai Motor India’s, part of Hyundai Motor Group, mega IPO will open today for public subscription. The initial public offering, entirely an offer for sale by up to 14.22 crore shares by Hyundai Motor Company, of ₹27,870 crore (at the upper end), is the largest ever in the Indian primary market. Discount to employeeThe Hyundai Motor India IPO has reserved 50 per cent of the issue size to qualified institutional buyers (QIB), 15 per cent to non-institutional Institutional Investors (HNIs), and 35 per cent to retail investors. As the issue is entirely an offer for sales by Hyundai Motor, the funds raised will not go to company. According to Hyundai’s filing, out of the total 4.2 crore shares allocated, 1.46 crore shares were designated for 21 domestic mutual funds across 83 schemes.

Source: The Hindu October 15, 2024 07:47 UTC