Stay updated on Hyundai's public offering which is the largest ever in India, valued at Rs 27,870 crore and opened today. Just a day prior, the company secured Rs 8,315 crore from over 200 anchor investors. This IPO is the biggest yet in India, and you can track live GMP updates and more.
Hyundai IPO: India's Largest Ever Public Offering
Hyundai Motor India (HMIL), the Indian subsidiary of South Korean automotive giant Hyundai Motor Company, made its much-anticipated initial public offering (IPO) on October 25, 2022. The IPO, the largest ever in India's history, was valued at Rs 27,870 crore (approximately $3.5 billion).
Ahead of the IPO, HMIL raised Rs 8,315 crore ($1.05 billion) from over 200 anchor investors, including marquee institutional investors such as BlackRock, Goldman Sachs, and Abu Dhabi Investment Authority. This strong investor interest reflected the company's strong brand reputation, market dominance, and growth potential.
The IPO was open for public subscription from October 25 to 28, 2022. The price band for the IPO was set at Rs 824-829 per share. HMIL offered 22.8 million shares for sale, representing approximately 10% of its equity capital.
Background
HMIL was established in 1996 as a joint venture between Hyundai Motor Company and the Indian conglomerate, the Somani group. The company has since grown to become India's second-largest car manufacturer, with a market share of over 17%. HMIL operates three manufacturing plants in India, with a total annual production capacity of over 800,000 vehicles.
The company's portfolio includes a wide range of cars, SUVs, and electric vehicles. HMIL is known for its innovative designs, fuel-efficient engines, and affordable pricing. The company has a strong presence in both urban and rural markets across India.
IPO Details
Top 5 FAQs
Q1: Why did HMIL decide to go public? A1: HMIL went public to raise capital for its expansion plans, including increasing its production capacity and developing new products.
Q2: What is the expected listing date for HMIL shares? A2: The HMIL shares are expected to list on the BSE and NSE on November 4, 2022.
Q3: What is the Grey Market Premium (GMP) for HMIL shares? A3: The GMP for HMIL shares was around Rs 20 on October 27, 2022, indicating a premium of approximately 2.5% above the issue price.
Q4: Who are the anchor investors in HMIL's IPO? A4: Some of the key anchor investors in HMIL's IPO include BlackRock, Goldman Sachs, Abu Dhabi Investment Authority, and HDFC Life Insurance Company.
Q5: What is the future outlook for HMIL? A5: HMIL is well-positioned for growth in the Indian automotive market. The company has a strong brand, a wide product portfolio, and a robust distribution network. With its expansion plans and focus on innovation, HMIL is expected to continue to perform well in the coming years.
Waaree Energies Ltd. is aiming for a significant increase in their margins by becoming a fully integrated manufacturing company by 2027. With a focus on cost management and their own cell capacities coming into play, the parent entity of Waaree Renewable Technologies Ltd. is confident that margins will expand, potentially up to 300 basis points. The upcoming IPO for Waaree Energies will help finance their expansion plans in Odisha and meet the demand for solar cells in the Indian market.
Indians across the Hindu religion will celebrate Valmiki Jayanti on October 17, 2024, as they mark the birth anniversary of Maharishi Valmiki. Known as the Adi Kavi, or the first poet of Sanskrit literature, Valmiki authored the epic Ramayana, a collection of 24,000 verses and 7 cantos. The day, also known as Pargat Diwas, is celebrated traditionally on the full moon day of Ashwin in the Hindu calendar, and is commonly referred to as Panchanga. Share in the festivities with Valmiki Jayanti Wishes, quotes, greetings, and photos to commemorate the occasion.
In a much-awaited announcement, Reliance Industries may declare the record date for their bonus share issuance, doubling the shares of every shareholder. This would mark the largest bonus issue in the stock market and is being considered a Diwali gift for investors. The decision may be taken on October 14, along with the company's quarterly and half-yearly results. This is the sixth bonus issue for Reliance since their IPO, reflecting their commitment to providing continuous benefits to their shareholders.
United Airlines has seen a 70.4% increase in stock value over the past 12 months, with its fourth quarter already showing a 20% increase. This comes after the airline announced a successful third-quarter earnings report and a $1.5 billion stock buyback program. Options traders and analysts are responding positively to the news, with a surge in trading and multiple price target hikes. The stock's short interest has also increased, further contributing to the positive momentum.
Waaree Energies, a leading Indian manufacturer of solar PV modules, has announced its IPO with a price band of Rs 1,427-1,503 per share. The IPO includes a fresh share sale of Rs 3,600 crore and an offer-for-sale of up to 48,00,000 equity shares. The solar company aims to raise Rs 4,321.44 crore and has a subsidiary, Waaree Renewable Technologies Limited, leading its solar EPC business. Investors can apply for a minimum of 9 equity shares and its multiples thereafter, with bidding closing on October 23.
In a welcome move, the Indian government has announced a 3% increase in Dearness Allowance (DA) for central government employees and pensioners, effective from July 1. This decision comes just in time for the festive season, bringing joy to more than 1 crore households. Union Minister Ashwini Vaishnaw confirmed that this adjustment follows a previous 4% increase in March, aligning with the Seventh Central Pay Commission's recommendations. The estimated annual financial implication of this move is Rs 9,448 crore.
The Economic Coordination Committee, led by Prime Minister's Adviser Finance Dr. Abdul Hafeez Shaikh, has proposed a minimum support price of 1600 rupees for next year's wheat crop. This decision, which follows four previous revisions since 2010-2011, aims to boost wheat production and stabilize the market for increased profitability for farmers. In addition, the committee has also approved an increase in wheat imports through international bidding and a government-to-government deal with the Russian Federation, in order to meet the demand for wheat in the country.
Rediff Money Desk, based in New Delhi, has recently announced a wave of upcoming IPOs in the business world. These include Waaree Energies, MobiKwik, Premier Energies, Garuda Construction, Kross, Tolins Tyres, Hyundai Motor India, and Baazar Style Retail. With raising amounts ranging from Rs 69 crore to a whopping Rs 27,870 crore, these IPOs are expected to bring major changes and advancements in their respective industries. Stay tuned for potential investment opportunities and witness the growing impact of these companies in the global market.
Waaree Energies, an Indian manufacturer of solar PV modules, will be launching its initial public offering (IPO) on Monday, October 21. The IPO includes a fresh share sale of Rs 3,600 crore and an offer-for-sale of up to 48,00,000 equity shares. The company plans to use the proceeds from the issue for establishing a new manufacturing facility and general corporate purposes. The IPO is expected to be listed on BSE and NSE on October 28.
Rexel, a leading electrical and energy solutions company, saw a nearly 10% jump in its stock after announcing its rejection of a takeover bid from QXO. The bid was deemed too low by Rexel's board and analysts agree, citing the company's strong growth potential and management's history of creating shareholder value. While there are some potential risks, Rexel's solid position in the market and recent successes make it a promising investment for the future.