On the final day of subscriptions, Thursday, October 17, qualified institutional investors (QIBs) responded in force to the Rs 27,870 crore initial public offering (IPO) of Hyundai Motor India Ltd, the Indian subsidiary of the South Korean automaker Hyundai. Since the first share sale concludes today.
The mainboard issue has been booked more than 2.35 times as of 03.30 pm on the last day of bidding, according to NSE coconsolidated bid data.
Subscriptions across categories
During the IPO, more than 26.46 crore shares were bid on, while only 9.97 crore shares were available for subscription. As a result, the issue was subscribed to 2.35 times subscriptions overall.
Over 2.40 crore shares of Hyundai Motor India Ltd were applied for by retail individual (RIIS) investors, out of the 4.94 crore shares set aside for the category. Bids for the retail section were 0.49 times.
In contrast to the 2.12 crore shares set aside for the category, the Non-Institutional Investors (NIIs) category received 0.60 times as many subscriptions to the mainboard issue, with applications for over 1.26 crore shares.
2.82 crore shares were allotted to the category, while 48.76 lakh shares were bid on by Qualified Institutional Buyers (QIBs). The quota booked by the QIBs was 19.65 crore times.
Price band, issue size and IPO structure
Each equity share is fixed at a price between Rs 1,865 and Rs 1,960. Hyundai Motor Company, the promoter, is participating in the IPO by offering 1,42,194,700 shares for sale (OFS). No new issue component has emerged.
Since the company is only an OFS, it will not receive any proceeds from the IPO. The bidding for anchor investors will begin on Monday, October 14.
Following LIC's Rs 21,000 crore IPO, the largest in India was the Rs 27,856 crore IPO.
#HyundaiIPO subscribed 2.23x supported by QIB with 6.62x, Retailers are still away with 0.47x
GMP is same at ₹14 (0.71%)
Note: I personally not applied for this IPO.#HyundaiMotorsIPO#HyundaiMotorIndia#NIFTYAUTOhttps://t.co/sfOTlW676gpic.twitter.com/y7CuVcSiH3— Trading Hustler (@tradinghustlr) October 17, 2024
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Listing and subscription timetable
Shares and non-allottee refunds will be credited to the demat accounts of successful bidders on October 21. On October 22, the company's shares are anticipated to list on the BSE and NSE.
The Hyndai Motors IPO subscription period opened on October 15, and the shares will be distributed by October 18 following the conclusion of the bidding process today, October 17.
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GMP of hyundai IPO
The grey market premium (GMP), which has decreased, has many worried and is deterring potential investors. As of 4.00 PM on October 17, 2024, the most recent grey market premium (GMP) for Hyundai Motor's initial public offering (IPO) is Rs 14.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.