Hyundai Motor India’s IPO was successful in attracting interest on the last day of bidding, as offers totaling 22,70,16,055 shares were received against the 9,97,69,810 shares that were offered. This is a 2.28-fold oversubscription. Qualified Institutional Buyers (QIBs), who bid for 6.76 times the shares offered until around 3:03 PM on Thursday, were the driving force behind this demand.
By contrast, NSE data shows that Retail Individual Investors (RIIs) have subscribed 0.47 times, and Non-Institutional Investors (NIIs) have subscribed 0.53 times of the public offering. Furthermore, at 1.67 times, the staff quota has also been fully subscribed.
Hyundai Motor IPO GMP Today
The most recent grey market premium (GMP) for the Hyundai Motor IPO was Rs 14 as of October 17. The estimated listing price is anticipated to be Rs 1,974 per share, representing a slight increase of 0.71%, based on the GMP and the price band of Rs 1,960 per share for the IPO.
A number of brokerages have offered their perspectives on the Hyundai IPO’s potential. According to Choice Equity Broking’s rating of ‘Subscribe for Long Term,’ Hyundai’s concentration on premiumization and market expansion will likely pay off for investors with patience. Hyundai Motors appeals to investors seeking steady long-term profits because of its solid track record of steady growth and dividend payments.
Hyundai Motor India IPO key details
On Tuesday, October 15, subscriptions for the Hyundai Motor India initial public offering (IPO) commenced and will stay open until Thursday, October 17. The IPO has a price range of ₹1865 to ₹1960 per share. There is no new issue component in the ₹27,870.16 crore transaction, which is an offer for sale (OFS) of 14.22 crore shares.
Finalizing the share allotment is anticipated from the firm on Friday, October 18. On Monday, October 21, winning bidders can anticipate having their shares credited to their demat accounts; unsuccessful bidders can pick up their refund that same day. Tuesday, October 22, is when the company’s shares could go up for sale on the BSE and NSE.
