Hyundai IPO : The Rs 27,870 crore IPO of Hyundai Motor India Limited (HMIL), the Indian unit of South Korea's leading automobile company Hyundai, will open on October 15. The company gave this information on Wednesday. The price band of shares in the IPO has been fixed at Rs 1,865-1,960 per share. This will be the largest IPO in India. Earlier, the largest IPO was that of Life Insurance Corporation of India (LIC), which was worth Rs 21,000 crore.

There will be an opportunity to invest till October 17 (Hyundai IPO Closing Date)

Hyundai said that HMIL's IPO will close on October 17. Anchor (large) investors will be able to bid for the shares on October 14. The company said that the IPO is entirely based on the sale of 14,21,94,700 equity shares by the promoter Hyundai Motor Company. That is, no new shares will be sold.

IPO of a car company after 21 years (Hyundai IPO Detail)

This IPO is important for the Indian industry because after two decades a car company is bringing its IPO. Earlier Maruti Suzuki had brought an IPO in 2003. Hyundai's parent company Hyundai is selling some stake in the IPO.

What will be the benefit (Hyundai IPO Size)

This IPO is purely an Offer for Sale (OFS), so HMIL will not receive any proceeds from the IPO. HMIL said it expects the listing of equity shares to "enhance our visibility and brand image and provide liquidity and a public market for the shares."

What will be the market value (Hyundai Market Value)

At the upper end of the price band, the size of the IPO is estimated to be Rs 27,870 crore and the company's market value is estimated to be around Rs 1.6 lakh crore after the IPO. HMIL started operations in India in 1996 and is selling 13 models in different segments.