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New Delhi, 4 October (Hindustan Reporter). Hyundai Motor India Limited, the country's second largest carmaker, may file an updated draft for its IPO with market regulator Securities and Exchange Board of India (SEBI) next week on October 7. It is believed that in the updated draft, the company can make changes in the details like size, value and timing of its proposed issue.
According to the news so far, Hyundai Motor India Limited can launch an IPO of Rs 25 thousand crore for subscription on October 14. Its closing may happen on 16 October. If the size of the IPO is not changed in the updated draft, then this IPO could be the biggest IPO in the country so far. Before this, Life Insurance Corporation of India had launched an IPO of Rs 21 thousand crore in 2022, which is the country's largest IPO till date.
According to the draft red herring prospectus (DRHP) that Hyundai Motor India Limited has submitted to SEBI for its IPO, the company will offer 14,21,94,700 shares for offer for sale (OFS) through the IPO. Apart from this, no new shares will be issued. Let us tell you that Hyundai Motor India Limited had submitted its DRHP to the market regulator SEBI on June 15. After this, the company has got approval for IPO from SEBI.
Hyundai Motor India is going to sell 17.5 percent stake through this IPO. It is being told that many foreign institutional investors and domestic institutional investors including many asset managers, pension funds, insurance companies and sovereign wealth funds have shown their interest in investing in this IPO. Market experts believe that the IPO of Hyundai Motor India Limited may get a strong response from investors. However, if the tension in the Middle East continues at the time of IPO launch and foreign investors continue to withdraw money from the Indian market, then it may also have a negative impact on the IPO of Hyundai Motor India Limited.