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Upcoming IPO: Hyundai Motor IPO in 3 issues to open for subscriptions, three listings lined up



The much-awaited Hyundai Motors India IPO will open for subscription on October 15. Two SME IPOs, Lakshya Powertech and Freshara Agro Exports, will also open for subscription next week. Three other IPOs are scheduled for listing in the coming week.

The first nine months of this year have seen an eventful period in the core market. The companies have raised over ₹61,000 crore through initial public offerings (IPOs).

The momentum will continue with the launch of Hyundai Motor India's IPO in the third week of October. Hyundai Motor India’s public issue could be India’s largest IPO with an issue size of ₹27,870 crore.

Hyundai Motor India IPO (Opening on Oct 15)

Hyundai Motor India Ltd, the unit of Korean automaker Hyundai India, will open its first public offering of cars for subscriptions on Tuesday, October 15. The three-day subscription window for the mainboard issue will close on Wednesday, October 17

Known as the largest public offering in the automotive industry in India till date, Hyundai Motor India IPO has a book-making issue of ₹27,870.16 crore. The mainboard issue has an offer to sell (OFS) of just 14.22 crore shares.

The Hyundai Motor IPO price band has been pegged at ₹1,865 to ₹1,960 per share. Retail investors can bid for at least a lot size of 7 shares, aggregating up to ₹13,720 in the upper price band.

The minimum lot size for small non-institutional investors (sNIIs) is fixed at 15 lots, or 105 shares, with an investment of ₹2,05,800 Large non-institutional investors (bNIIs) can bid for a minimum lot size totally consisting of 73 lots or 511 shares, amounting to an investment of ₹10,01,560.

The allotment of shares of Hyundai Motor India IPO will be completed on Friday, October 18. Shares of Hyundai Motor India will be listed on BSE and NSE. The official registration deadline is Tuesday, October 22nd.

Lakshya Powertech IPO (opened on Oct 16)

The Lakshya Powertech IPO (Lakshya Powertech Limited IPO) subscription window will be open from 16th October to 18th October.

Lakshya Powertech plans to raise ₹49.91 crore through its public issue. The Lakshya Powertech IPO involves a fresh issue of 27.73 lakh shares.

The Lakshya Powertech IPO price band has been fixed at ₹171 to ₹180 per share. Retail investors can apply for the public issue by placing a bid for a minimum lot size of 800 shares, which is an investment of ₹1,44,000 on top of the price

On the other hand, the minimum investment size for HNIs is 2 lots, or 1,600 shares, of ₹2,88,000.

The conditions of Lakshya Powertech’s IPO share shares are expected to be finalized on Monday, October 21. The shares of the company will be listed on NSE SME platform Emerge The earliest listing date is Wednesday, October 23.

Freshara Agro Exports IPO (opened on Oct 17)

The agri-export company will start its public offering from October 17 to 21. The company plans to raise ₹75.3 crore from the IPO. The Freshara Agro Exports IPO price band ranges from ₹110 to ₹116 per share, with a lot size of 1200 shares. The minimum investment for retail investors is ₹1,39200 lakh at the top of the price band.

Established in 2015, Freshra Agro Exports buys, processes and exports agricultural products from India to various countries in the world. The company plans to use the proceeds of the IPO to finance working capital and general corporate purposes.

The share share conditions of Freshra Agro Exports IPO are likely to be finalized on Tuesday, October 22. The shares of the company will be listed on NSE SME platform Emerge. The official registration deadline is Wednesday, October 24th.

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