(Reuters) – Hyundai Motor India has set a price range of 1,865 rupees ($22) to 1,960 rupees ($23) for its initial public offering (IPO) that opens next week for subscriptions, a advertisement in the Financial Express newspaper showed on Wednesday. The Indian unit of the Korean carmaker is offering a discount of 186 rupees per […]
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Hyundai prices $3 billion India IPO at 1,865-1,960 rupees per share
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(Reuters) – Hyundai Motor India has set a price range of 1,865 rupees ($22) to 1,960 rupees ($23) for its initial public offering (IPO) that opens next week for subscriptions, a advertisement in the Financial Express newspaper showed on Wednesday.
The Indian unit of the Korean carmaker is offering a discount of 186 rupees per share to eligible employees in the IPO, the advertisement showed.
The $3 billion IPO, India’s largest ever, will open for subscriptions for big institutional investors on Oct. 14, and invite bids from retail and other categories during Oct. 15-17.
(Reporting by Chris Thomas in Bengaluru; Editing by Christian Schmollinger)