Hyundai Motor India’s ₹27,870.16 crore IPO is set to close on Thursday. The IPO, which opened for subscription on October 15, is entirely an offer for sale of 14.22 crore shares.
Hyundai Motor India IPO Subscription Status
As per data on NSE, the Hyundai Motor India IPO has been subscribed 1.8 times on the last day of bidding. As of 1:39 p.m., Qualified Institutional Buyers (QIBs) subscribed 5.22 times, while the Non-Institutional Investors (NIIs) have subscribed 0.40 times.
Retail individual investors (RIIs) have also shown keen interest, with a subscription rate of 0.44 times. The employee category has seen a subscription rate of 1.59 times.
Hyundai Motor India IPO GMP
The grey market premium (GMP) for the Hyundai Motor India IPO stands at ₹14 as of October 17. With the IPO’s price band set at ₹1,960, the estimated listing price for the company’s shares is ₹1,974, which represents a mere 0.7% premium.
It is crucial to note that GMPs are merely indicative and should not be the sole factor considered when assessing the company’s performance upon listing.
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About Hyundai Motor India IPO
The IPO price band is set at ₹1,865 to ₹1,960 per share, with a minimum lot size of seven shares. This translates to a minimum investment of ₹13,720 for retail investors. The IPO is set to close on October 17, 2024.
The Hyundai Motor IPO is a book-built issue. The allotment for the Hyundai Motor IPO is expected to be finalised on October 18.
The IPO will list on BSE and NSE with a tentative listing date of October 22. The issue includes a reservation of up to 7.78 lakh shares for employees offered at a discount of ₹186 to the issue price.
Hyundai Motor India, a subsidiary of South Korean auto major Hyundai Motor Company, is one of the leading players in the Indian automobile industry. The company offers a wide range of cars, including hatchbacks, sedans and sports utility vehicles, catering to various segments of the market.
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