Upcoming IPO: Next week is going to be great for the stock market and investors. The country’s biggest IPO is going to enter the market this week. Hyundai Motor India is going to launch its IPO worth more than Rs 27000 crore ($3.3 billion) in the market. With this, Hyundai, the country’s second largest automobile company, will leave LIC behind. LIC’s Rs 21,000 crore IPO is the country’s biggest issue so far. Apart from this, Lakshya Powertech and Freshara Agro Exports will also present their IPOs.
Hyundai IPO subscription will be open from 15 to 17 October
Hyundai Motor’s Rs 27,870 crore IPO is going to take entry on Dalal Street on October 15. Its subscription can be done till 17th October. So far, the first name among the big IPOs is that of LIC (Life Insurance Corporation), which had launched an IPO of Rs 21,008 crore in 2022. After this comes the names of Paytm’s 2021 IPO of Rs 18,300 crore and Coal India’s 2010 IPO of Rs 15,199 crore. This will also become the biggest IPO from any car company.
Price band will be between Rs 1,865 to Rs 1,960, offer for sale only.
The price band of Hyundai Motor’s IPO has been kept between Rs 1,865 to Rs 1,960. Before this, an anchor issue of Rs 8,315 crore will also be opened. This is going to be a complete offer for sale issue. In this, the company is going to launch 14.2 crore equity shares in the market. With this the market value of the company will become Rs 1.59 lakh crore. Apart from this, a portion will also be reserved for the employees of the company. Its gray market price is currently running at a premium of 5 to 7 percent.
Small IPOs of these two companies will also open for investors.
Lakshya Powertech’s Rs 50 crore IPO will also open next week. Its subscription can be done from October 16 to October 18. Its price band has been kept at Rs 171 to 180. The listing of the company’s shares will take place on NSE Emerge on October 23. Apart from this, the IPO of Rs 75.4 crore of Freshra Agro Exports will also be open for subscription from 17 to 21 October. Its price band has been kept at Rs 110 to 116. Its listing on NSE Emerge is going to happen on October 24.
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