This IPO marks the largest in the country, exceeding LIC's previous initial share sale of Rs 21,000 crore. The price band for the IPO is set between Rs 1,865 and Rs 1,960 per share. The offering consists entirely of an offer for sale (OFS) of 14,21,94,700 equity shares by the promoter, Hyundai Motor Company (HMC), with no fresh issue component involved. This is the first IPO by an automaker in over two decades, following Japanese carmaker Maruti Suzuki's listing in 2003. Since the public issue is entirely an OFS, Hyundai Motor India Ltd, the second-largest carmaker in India after Maruti Suzuki, will not receive any proceeds from the IPO. HMIL anticipates that the listing of its equity shares will enhance its visibility and brand image, providing liquidity and a public market for its shares.