The Hyundai Motor India IPO, one of the largest IPOs in India, recently closed its subscription window, and investors are eagerly awaiting the allotment status. The IPO was open for subscription from October 15 to October 17, 2024, with a price band set between ₹1,865 and ₹1,960 per share.
Despite a lukewarm response from retail investors, qualified institutional buyers (QIBs) ensured the issue was fully subscribed. The allotment date is expected to be finalized on October 18, 2024.
Hyundai IPO Allotment Status and GMP Update
Hyundai Motor India IPO shares are expected to be credited to investors’ demat accounts by October 21, 2024, with refunds for unsuccessful bidders processed on the same day. Investors can check their IPO allotment status online via the BSE website or the official portal of the IPO registrar, Kfin Technologies. The steps to check the allotment status are as follows:
- Visit the BSE website or Kfin Technologies’ portal.
- Select “Equity” as the issue type and choose “Hyundai Motor India Limited.”
- Enter either your Application Number or PAN to retrieve your status.
- Verify using the captcha code and click “Submit.”
The grey market premium (GMP) for Hyundai shares has turned negative, trading at a discount of ₹33 below the issue price. This suggests a weak listing performance, with the estimated listing price at ₹1,927 per share, representing a 1.68% discount to the IPO price. The listing date is expected to be October 22, 2024, on both the NSE and BSE.
Key Details of Hyundai IPO
The Hyundai Motor India IPO aimed to raise ₹27,870.16 crore, making it the largest IPO of the year. The offer was an offer-for-sale (OFS) of 14.22 crore equity shares. While the retail portion was subscribed at 50%, the QIB portion was oversubscribed by 6.97 times, ensuring the issue’s success.
Despite the GMP turning negative, the company’s strong fundamentals in the automotive industry and focus on electric vehicle (EV) innovation make it a stock worth watching for long-term investors.
Hyundai Motor India IPO:
| Details | Information |
|---|---|
| IPO Opening Date | October 15, 2024 |
| IPO Closing Date | October 17, 2024 |
| Price Band | ₹1,865 to ₹1,960 per share |
| Total Issue Size | ₹27,870.16 crore |
| Type of Issue | Offer for Sale (OFS) |
| Shares Offered | 14.22 crore equity shares |
| Anchor Investment Date | October 14, 2024 |
| IPO Allotment Date | October 18, 2024 |
| Listing Date | October 22, 2024 |
| Expected Listing Price | ₹1,927 (estimated, based on GMP) |
| Grey Market Premium (GMP) | ₹-33 (negative) |
| Registrar | Kfin Technologies |
| Book Running Lead Managers | Kotak Mahindra Capital, Citigroup, HSBC, J.P. Morgan, Morgan Stanley |
Disclaimer
This article is for informational purposes only and should not be taken as investment advice. Please consult a financial advisor for specific guidance on investments.
