According to HMIL's draft red herring prospectus (DRHP), filed with Sebi last week, the public issue entails an offer for sale of 142.2 million equity shares at Rs 10 each, representing a 17.5% stake dilution by promoter Hyundai Motor. HMIL has allocated 50% of the issue for qualified institutional buyers (QIBs) (including anchor investors), 35% for retail investors, and the remainder for non-institutional investors.