Hyundai Motor India IPO Allotment Finalization Set for Today Amid Investor Anticipation
The allotment of shares for Hyundai Motor India’s IPO is scheduled for today, Friday, October 18, 2024. The IPO, which was open for bidding from October 15 to October 17, saw decent participation from investors across categories. Investors are now...
10:36 AM Oct 18, 2024 IST
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Honey sharma
The allotment of shares for Hyundai Motor India’s IPO is scheduled for today, Friday, October 18, 2024. The IPO, which was open for bidding from October 15 to October 17, saw decent participation from investors across categories. Investors are now waiting to check their allotment status, which will be available on the websites of BSE, NSE, and Kfin Technologies, the IPO registrar.
Hyundai Motor India IPO Subscription Overview
The Hyundai Motor India IPO was offered at a price band of Rs.1865-Rs.1960 per share, with a lot size of 7 shares. By the time the subscription window closed, the IPO had been oversubscribed by 2.37 times. A total of 23.63 crore shares were bid for, against the 9.97 crore shares on offer.
Here is the breakdown of subscriptions:
- Qualified Institutional Buyers (QIBs): Subscribed 6.97 times.
- Non-Institutional Investors (NIIs): Subscribed 60%.
- Retail Investors: Subscribed 50%.
- Employee Quota: Subscribed 1.74 times.
Checking Hyundai Motor India IPO Allotment Status
Once the allotment is finalized, investors can check their status on the official websites of BSE, NSE, or through Kfin Technologies.
To check the allotment status:
- Visit the BSE website or Kfin Technologies IPO page.
- Select "Equity" and choose "Hyundai Motor India Limited."
- Enter your Application Number or PAN.
- Complete the verification process and click "Search" to view your allotment status.
Hyundai Motor India IPO Grey Market Premium (GMP)
The grey market premium (GMP) for Hyundai Motor India shares has continued to decline. As of today, the GMP is around Rs.-30, which means the shares are trading at a 2% discount to the IPO price of Rs.1960. The current trends suggest a weak listing, in contrast to the higher GMP of Rs.147 observed earlier this month on October 9, 2024, when Hyundai Motor announced its price band.
Hyundai Motor India Expected Listing Price
Hyundai Motor India shares are expected to list on Tuesday, October 22, 2024, on both the BSE and NSE. If current grey market trends persist, the shares may list at around Rs.1,930, representing a slight Rs.30 discount (or 2%) to the upper end of the issue price.
About Hyundai Motor India
Hyundai Motor India Ltd (HMIL) is a subsidiary of the Hyundai Motor Group, which ranked as the third-largest automotive original equipment manufacturer (OEM) globally in terms of passenger vehicle sales in 2023. Since 2009, Hyundai has maintained its position as the second-largest auto OEM in India's passenger vehicle market.
The company offers 13 vehicle models, including sedans, hatchbacks, SUVs, and electric vehicles (EVs). Hyundai also manufactures key parts like transmissions and engines.
Hyundai Motor India has been the country’s largest exporter of passenger vehicles since 2005, exporting the highest cumulative number of cars until Fiscal 2024. Since it entered into the Indian market in 1998, Hyundai has sold nearly 12 million passenger vehicles domestically and through exports.
In conclusion, the Hyundai Motor India IPO, which attracted significant interest from institutional investors, is now awaiting its final allotment. With the allotment scheduled for today and shares expected to list next week, investors are keenly monitoring the grey market, where the stock is currently trading at a slight discount.
Also read: Garuda Construction IPO Sees Strong Market Debut with Over 9% Premium
Despite the decline in the grey market premium, Hyundai Motor India’s strong market position and consistent performance as a leading player in the Indian automotive industry signal potential long-term value for shareholders.
Disclaimer: The information provided in this article is for general informational purposes only and should not be considered as financial or investment advice. The opinions and analysis expressed here are based on current market trends and publicly available information. Readers are advised to conduct their own research or consult with a certified financial advisor before making any investment decisions.
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