Hyundai Motor India Ltd IPO
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Hyundai Motor India Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 1,421.95 L | ₹ 1,421.95 L | ₹ 494.96 L | ₹ 8,125.41 L | BSE | ₹ 27870.16 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 15 Oct, 24 | 17 Oct, 24 | 7 | ₹ 13,055 | Book Building | 22 Oct, 24 |
Hyundai Motor India Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Automobiles - Passenger Cars |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 2.79x | 70708150 | 197248156 |
| NII | 0.6x | 21212445 | 12758627 |
| Retail | 0.5x | 49495705 | 24964289 |
| Employee | 1.74x | 778400 | 1356831 |
| Total | 1.66x | 142194700 | 236327903 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Hyundai Motor India Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 69,829.06 | 60,307.58 | 47,378.43 |
| EBITDA | 12,440.33 | 10,579.29 | 7,994.15 |
| PAT | 5,954.31 | 4,653.85 | 2,861.77 |
| Total Assets | 16,392.52 | 25,760.30 | 20,409.58 |
| Share Capital | 812.54 | 812.54 | 812.54 |
| Total Borrowings | 2,437.87 | 2,335.60 | 1,686.05 |
| Operating Activities (Net Cash) | 8,126.73 | 6,809.07 | 4,997.45 |
| Investing Activities (Net Cash) | -492.32 | -1,185.61 | -388.06 |
| Financing Activities (Net Cash) | 2,437.87 | 2,335.60 | 1,686.05 |
| Net Cashflow | 8,657.90 | 17,493.21 | 13,965.84 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Hyundai Motor India Ltd
The Company was incorporated on May 6, 1996 as a public limited company under the Companies Act, 1956, with the name Hyundai Motor India Limited, pursuant to a certificate of incorporation granted by the Registrar of Companies, Tamil Nadu and subsequently, a certificate of commencement of business dated May 10, 1996 was issued to the Company by the Registrar of Companies, Tamil Nadu.
The Indian PV industry witnessed growth reaching a high of 3.3 million vehicle sales in Fiscal 2019. This growth until Fiscal 2019 was led by continuous improvement in GDP, increase in disposable incomes and new model launches, stable cost of vehicle ownership, as well as rising traction for SUVs. Between Fiscals 2019 and 2024, India's domestic PV sales volume rose at 5% CAGR. This growth was despite the sales contraction (at 10% CAGR) witnessed during Fiscals 2019 to 2021. From the low base of Fiscal 2021, passenger vehicle sales bounced back and grew at a healthy pace to reach the historic high of 4.2 million units in Fiscal 2024. In Fiscal 2024, the Company had a market share across select OEMs in India in terms of volume of 12% (hatchbacks), 22% (sedans) and 18% (SUVs).
Hyundai Motor India Limited primarily manufactures and sells four-wheeler passenger vehicles and parts, such as transmissions and engines in India and outside India. Currently its vehicle portfolio includes 13 passenger vehicle models across sedans, hatchbacks, SUVs and battery EVs. The Company has been the second largest auto OEM in the Indian passenger vehicles market in Fiscals 2022, 2023 and 2024 and the three months ended June 30, 2024, and also since Fiscal 2009 (in terms of domestic sales volumes), according to the CRISIL Report. The Company is a part of the Hyundai Motor Group, the third largest auto OEM in the world based on passenger vehicle sales in CY2023, according to the CRISIL Report. The Company has been India's second largest exporter of passenger vehicles since Fiscal 2022 through June 30, 2024, according to the CRISIL Report. Its revenue from sale of products - vehicles as a percentage of revenue from operations was 85.77%, 87.36%, 85.98%, 86.67% and 86.30%, and our revenue from sale of products-parts as a percentage of revenue from operations was 5.94%, 6.24%, 6.18%, 6.05% and 7.12%, in the three months ended June 30, 2024 and June 30, 2023 and in Fiscals 2024, 2023 and 2022, respectively.
Peer Comparison:
- Maruti Suzuki India Ltd
- Tata Motors Ltd
- Mahindra & Mahindra Ltd
Hyundai Motor India Ltd IPO Key Points
Strengths
- The Company has been the second largest auto OEM since Fiscal 2009 in the Indian passenger vehicles market in terms of domestic sales volumes, according to the CRISIL Report.
- The Company has diverse portfolio of passenger vehicles across powertrains and across major passenger vehicle segments. Its current portfolio of passenger vehicles caters to a diverse customer base, such that it is able to offer something for everyone. Currently, its portfolio includes 13 passenger vehicle models (including N Line models which are the passenger vehicle models that feature sporty performance features) across all major passenger vehicle segments by body type.
- The Company identifies emerging market trends in a timely manner and introduce innovative passenger vehicles and technologies to meet customer needs in India. The Company identifies emerging market trends, latent customer needs and aspirations based on its and HMC's global network, in-depth market and product research.
- The Company has pan-India sales and distribution and after-sale services network offered by its dealers. As of June 30, 2024, the company had 1,377 sales outlets across 1,036 cities and towns in India and 1,561 service centres across India across 957 cities and towns in India, which has grown from 1,167 sales outlets across 873 cities and towns in India and 1,307 service centres across 814 cities and towns in India as of March 31, 2021.
- The Company has digitised its customers and dealers' interactions with each other and with the company. Through the myHyundai app and its website, customers can interact with the company at every stage of the passenger vehicle purchase journey and access after-sale services.
Risk
- Increases in the prices of parts and materials required for its operations could adversely affect the company's business and results of operations.
- Two of its Group Companies, Kia Corporation and Kia India Private Limited, are in a similar line of business as the company which may involve conflict of interests, which could adversely impact its business.
- The company depends primarily on its Group Company, Mobis India Limited (being a subsidiary of Hyundai Mobis Co., Ltd. which is specialised in after-sale parts business for HMC Group Companies), to supply spare parts for after sale services to it and the company dealers. Further, its also depend on Mobis to supply modular parts to it that the company use in the manufacturing process of passenger vehicles and parts and constituted 17.91% of its total parts and materials supplied in the three months ended June 30, 2024. Any failure by Mobis to supply these parts could adversely impact its business. Further, Mobis may engage in transactions with it and other HMC Group Companies that may give rise to conflict situations.
Strategy
- Leveraging its deep understanding of consumer preferences to successfully expand its passenger vehicle portfolio.
- Focus on continued premiumisation of its passenger vehicle portfolio.
- Calibrated manufacturing capacity expansion and efficient capital allocation.
- Focus on increasing EV market share.
- Further strengthening its position as the export hub for HMC.
- The Company has been the second largest auto OEM since Fiscal 2009 in the Indian passenger vehicles market in terms of domestic sales volumes, according to the CRISIL Report.
- The Company has diverse portfolio of passenger vehicles across powertrains and across major passenger vehicle segments. Its current portfolio of passenger vehicles caters to a diverse customer base, such that it is able to offer something for everyone. Currently, its portfolio includes 13 passenger vehicle models (including N Line models which are the passenger vehicle models that feature sporty performance features) across all major passenger vehicle segments by body type.
- The Company identifies emerging market trends in a timely manner and introduce innovative passenger vehicles and technologies to meet customer needs in India. The Company identifies emerging market trends, latent customer needs and aspirations based on its and HMC's global network, in-depth market and product research.
- The Company has pan-India sales and distribution and after-sale services network offered by its dealers. As of June 30, 2024, the company had 1,377 sales outlets across 1,036 cities and towns in India and 1,561 service centres across India across 957 cities and towns in India, which has grown from 1,167 sales outlets across 873 cities and towns in India and 1,307 service centres across 814 cities and towns in India as of March 31, 2021.
- The Company has digitised its customers and dealers' interactions with each other and with the company. Through the myHyundai app and its website, customers can interact with the company at every stage of the passenger vehicle purchase journey and access after-sale services.
How To Apply for Hyundai Motor India Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
