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, an 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.
Reuters
