Oct 15, 2024
By: Sourabh Jain
Credit: Hyundai
Hyundai’s initial public offering (IPO) is now open and will close on Thursday, October 17.
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Hyundai has fixed a price band of ₹1865-₹1920 per share for its public issue.
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Hyundai Motor India is the Indian arm of South Korean automaker Hyundai Motor Company. It manufactures and sells cars in India and also exports them to other countries.
Credit: Hyundai
Hyundai is looking to raise ₹27,870.16 crore from the current IPO. This is entirely an offer for sale (OFS) and there is no fresh issue.
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Investors can bid for a minimum of 7 shares and in multiples of 7 shares thereafter.
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The company is among the top three automakers in the country. It operates 1,366 sales points and 1,550 service centres across the country.
Credit: Canva
The company’s income was ₹71,302.33 crore in FY24, up from ₹61,436.64 crore in FY23. The company reported a profit after tax (PAT) of ₹6,060.04 crore in FY24, up from ₹4,709.25 crore PAT reported in FY23.
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The company is engaged in a highly competitive market with an established leader. Rising part prices are another issue that could impact the company’s profitability.
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The company will not receive the funds raised as this is an offer for sale and not a fresh issue.
Credit: Hyundai
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Credit: Canva