Hyundai prices $3 billion India IPO at 1,865-1,960 rupees per share

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October 8, 2024 11:43 PM EDT

FILE PHOTO: A family unveils a new Hyundai car at one of the motor group's showrooms in New Delhi, India, September 6, 2024. REUTERS/Ainnie Arif/File Photo

(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)


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