Hyundai Motor IPO Price Band: If you also often invest in IPO, then this news is of use to you. Yes, the country's largest Hyundai Motor India IPO will open for subscription next week. Its price range is likely to be between Rs 1,865 to Rs 1,960 per share. Sources said the automaker is valued at up to Rs 1.6 lakh crore in the country's largest stock offer this year. The Indian branch of the South Korean auto major is likely to raise about $3 billion (Rs 28,000 crore) through the IPO. This is Dalal Street's largest price offering.

The price band is expected to be Rs 1,865-1,960

The Reuters report claimed that Hyundai could sell its shares at a price band of Rs 1,865-1,960 per share. This will be Hyundai Motor India's first listing outside South Korea. Also, this will be the first IPO from the carmaker since 2003, when Maruti Suzuki launched its primary stake sale. Hyundai Motor India will not issue any new shares in the IPO. The primary stake sale will be entirely an offer for sale of 14,21,94,700 equity shares or 17.5 percent stake by the South Korean parent company.

IPO expected to open for anchor investors on October 14
According to the report, the anchor book for Hyundai's IPO will open on October 14. The three-day bidding for this will start on October 15 and will continue till October 17. Its listing is expected on October 22. Let us tell you that South Korean automaker Hyundai is the second largest car manufacturer in India after the country's largest auto company Maruti Suzuki. The company wants to take back market share from domestic rivals by expanding its SUV lineup.

Plans to launch electric vehicles next year
The company is also planning to launch electric vehicles made in India early next year. Apart from this, there is a plan to introduce at least two gasoline-powered models in 2026. Amid talks of Hyundai Motor India's IPO coming next week, the gray market premium (GMP) has increased to Rs 280 per share. However, the premium in the unofficial market was at the level of Rs 270-260 a day earlier. At the beginning of the month, the GMP was around Rs 360-370.

LIC's biggest IPO so far
Earlier, the biggest IPO in Indian shares was of LIC. Through this, the insurance company had raised Rs 21,008 crore. After LIC, the biggest IPO was of One97 (Paytm's parent company) of Rs 18,300 crore. Paytm's IPO came in the market in November 2021. Apart from this, Coal India's Rs 15,199 crore IPO came in November 2010 and Reliance Power's Rs 11,563 crore IPO came in February 2008.

Hyundai has hinted at its expansion plan before the IPO. The company said that by 2025, its annual production in the country will be increased to one million units. With a focus on affordable electric cars, the company is planning to produce locally from 2025. The company has planned to spend Rs 32,000 crore to expand its business in India. With this money, the company will open a new factory in Maharashtra. The company bought this factory from General Motors last year.