Schedule of Hyundai Motor India
| Issue open date | 15 Oct 2024 |
| Issue close date | 17 Oct 2024 |
| UPI mandate deadline | 17 Oct 2024 (5 PM) |
| Allotment finalization | 18 Oct 2024 |
| Refund initiation | 21 Oct 2024 |
| Share credit | 21 Oct 2024 |
| Listing date | 22 Oct 2024 |
| Mandate end date | 01 Nov 2024 |
| Lock-in end date for anchor investors (50%) | 17 Nov 2024 |
| Lock-in end date for anchor investors (remaining) | 16 Jan 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Hyundai Motor India
The Hyundai IPO could be the largest in Indian history!
Hyundai Motor India, a subsidiary of the Korea-based Hyundai Group, was established in 1996. The company specializes in manufacturing and selling a wide range of four-wheeler passenger vehicles, including sedans, hatchbacks, SUVs, and electric vehicles (EVs). Additionally, Hyundai produces key automotive parts such as transmissions and engines.
Currently, Hyundai’s lineup includes 13 models, ranging from sedans and hatchbacks to SUVs. In FY 2024, Hyundai captured approximately 15% of the domestic car market, securing the second position behind Maruti Suzuki. As of December 31, 2023, Hyundai Motor India boasted 1,366 sales outlets and 1,550 service centres across various cities and towns in India. This marked a significant expansion from March 31, 2021, when the company operated 1,167 sales outlets and 1,307 service centres.
The Daily Brief by Zerodha covers how Hyundai wants to ride the Bull Run in this video.
Financials of Hyundai Motor India
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹27,870.16 crores |
| Fresh Issue | – |
| Offer for sale | ₹27,870.16 crores |
Strengths
- World’s third-largest auto Original Equipment Manufacturer (OEM) by passenger vehicle sales in 2023.
- Sold nearly 12 million passenger vehicles in India and through exports from 1998 to March 31, 2024.
- Second-largest auto Original Equipment Manufacturer (OEM) in the Indian market since 2009 (domestic sales volumes).
- India’s largest exporter of passenger vehicles from 2005 to the first 11 months of 2024, with the highest cumulative exports for this period.
Risks
- Kia Corporation and Kia India Pvt Ltd owned by Hyundai also operate in a similar domain, which could lead to conflicts of interest.
- Centralized at the Chennai plant; disruptions, including at the upcoming Talegaon plant (operational in H2 Fiscal 2026), could impact operations and financial health.
- Significant revenue depends on SUV sales; declines in demand or production issues could negatively affect operations.
- Operations are subject to seasonal fluctuations, which impact sales and financial performance. Demand typically peaks in January-March and during the festive season, with slowdowns in April-July and December.
- Changes in tax laws could negatively affect business prospects, financial standing, operational outcomes, and cash flows.
Media coverage
- Finshots – Why is Hyundai India looking to go public?
4 million! That’s how many cars Indians bought in 2023. In fact, we’re the third-biggest car market globally, trailing only China and the US. With electric vehicles gaining popularity, experts predict India will have 2.5 million EVs on the roads by 2025, making us the third-largest EV market as well. Automakers are closely watching these developments and are eager to jump on this trend.
Take Hyundai India, for instance. Despite being a subsidiary of South Korea’s Hyundai Motor Company, it has a rich history in the country. Hyundai India became a household name by manufacturing locally, overcoming early competition, and innovating for the Indian market. Now, they plan to take it further by raising a whopping ₹25,000 crores through an IPO, potentially breaking previous IPO records held by LIC and PayTM.
But wait… If Hyundai is a foreign brand, why pursue an IPO in the Indian market, you ask?
- Business Standard – Hyundai India targeting to raise record $3.5 billion through IPO
- Livemint – How Hyundai India IPO may affect Maruti Suzuki, Tata Motors and M&M shares?
- Moneycontrol – Hyundai Motor India IPO GMP crashes 75% in 2 weeks as automaker announces details of mega public issue
- Business Today – Hyundai Motor India IPO: Stock analyst views, latest GMP, growth outlook & more
Frequently Asked Questions (FAQs)
1. When is the Hyundai IPO date?
The Hyundai IPO opens for subscription on October 15, 2024, and closes on October 17, 2024.
2. What is the share price of the Hyundai IPO?
The price band for the Hyundai IPO is set at ₹1865 to ₹1960 per share.
3. What is the lot size of the Hyundai IPO?
The lot size for the Hyundai IPO is 7 shares, and the minimum order quantity is 7 shares.
4. How to apply for Hyundai IPO?
To buy Hyundai IPO shares, follow these steps:
- Login to your Zerodha account.
- Tap on Bids.
- Tap on IPO.
- Select the Hyundai IPO from the ongoing list of IPOs and tap on Apply.
- Tap on Apply again and enter the UPI ID.
- Enter or edit the Quantity and the Price.
- Tap on the undertaking tick box and swipe the Submit button.
- Accept the mandate on the UPI app.
For more detailed guidance, please refer to the How to Apply for IPO support article.
5. How can I pre-apply for the Hyundai IPO?
To pre-apply for the Hyundai IPO in Zerodha Kite, follow these steps:
- Click on “Bids.”
- Select “IPO.”
- A list of IPOs will be displayed select the Hyundai IPO and tap on “Pre-apply.”
- Choose your investor type: Individual or Employee.
- Tap on “Pre-apply.”
- Enter your UPI ID.
- Enter or edit the quantity and price.
- Tick the undertaking box and swipe on the “Submit” button.
Accept the mandate on the UPI app; it will be sent after 10 AM on the IPO start date.
For more detailed guidance, please refer to the How to pre-apply for IPO support article.