Hyundai Motor India, which will be India's largest Initial Public Offering (IPO) till date, has fixed the price band for its public issue between ₹1,865 to ₹1,960 per equity share.
At the upper end of the price band, the IPO size will be ₹27,870 crore, which will surpass LIC's size of over ₹21,000 crore. The IPO will be a complete Offer For Sale (OFS), where the company's parent will be selling 14.2 crore shares or 17.5% of the total equity.
Investors can bid for one lot of seven shares, followed by multiples of seven thereafter.
Anchor investors will bid for the issue on October 14.
The three-day issue will open for subscription on October 15 and close on October 17, 2024.
Half or 50% of the IPO has been reserved for Institutional Investors (QIB), while 15% of the issue has been reserved for non-institutional investors (NII). 35% of the IPO has been reserved for retail investors.