Hyundai Motor India launched its IPO, a book-built issue valued at ₹27,870.16 crores, on Tuesday.

The IPO, which is entirely an offer for sale of 14.22 crore shares, will close on October 17, 2024. The price band for the Hyundai IPO is set at ₹1,865 to ₹1,960 per share, with the minimum lot size for an application being seven shares.

The minimum investment required by retail investors is ₹13,720.

Hyundai Motor India IPO Subscription Status

As per NSE data, the subscription status as of 1:21 p.m. stood at 0.12 times.

The qualified institutional buyers (QIBs) section has been subscribed 0.01 times, the non-institutional investors (NIIs) has been booked 0.03 times and the retail individual investors (RIIs) section has been subscribed 0.2 times. The employee category has seen a subscription of 0.57 times.

The IPO’s allocation structure reserves not more than 20% of the shares for qualified institutional buyers (QIBs), a minimum of 15% for non-institutional investors (NIIs), and a minimum of 35% for retail investors, ensuring broad participation across investor categories.

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Hyundai Motor India IPO GMP

As of Tuesday, the grey market premium (GMP) for the Hyundai Motor India IPO is ₹25. At the upper price band of ₹1,960.00, Hyundai Motor IPO’s estimated listing price is ₹1,985, representing a premium of 1.27%.

It’s important to note that while IPO GMPs can provide some insight into market sentiment towards an IPO, they should not be taken as the sole factor behind the company’s performance upon listing.

Hyundai Motor India IPO Details

The Hyundai IPO is expected to be finalised on Friday, October 18, with a tentative listing date fixed as Tuesday, October 22, on both BSE and NSE.

The issue includes a reservation of up to 778,400 shares for employees offered at a discount of ₹186 to the issue price.

Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities & Capital Markets, J.P. Morgan India and Morgan Stanley India are the book running lead managers of the IPO, while Kfin Technologies is the registrar for the issue.

About Hyundai Motor

Hyundai Motor is a South Korean multinational automotive manufacturer headquartered in Seoul. The company was founded in 1967 and, along with its 32.8% owned subsidiary, Kia Corporation, formed the Hyundai Motor Group, which is the world’s third-largest vehicle manufacturer by production volume.

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