The much-anticipated Hyundai Motor India Limited IPO entered its second day on October 16, 2024. The company aims to raise ₹27,870.16 crore by offering 14.22 crore shares as part of an offer for sale by its parent company, Hyundai Motor Company of South Korea.
Despite Hyundai’s strong brand presence in India, the IPO saw a relatively slow start, with only 18% subscription recorded on Day 1.
Key Updates on Hyundai Motor India IPO
- Price Band: The price band for the IPO is set at ₹1,865 to ₹1,960 per share.
- Subscription Timeline: The IPO opened on October 15, 2024, and will close on October 17, 2024.
- Day 1 Performance: On the first day, the IPO received bids for 1.77 crore shares against the 9.97 crore shares available, achieving 18% of the subscription target.
Investor Response So Far
- Retail Investors: The retail portion saw a subscription rate of 26%, reflecting cautious optimism from smaller investors.
- Non-Institutional Investors (NII): NIIs booked 13%, while the Qualified Institutional Buyers (QIBs) category lagged with only 5% subscription.
- Employee Quota: The employee portion received an impressive 79% subscription, showing solid internal support.
Hyundai IPO Subscription Breakdown (Day 1)
| Investor Category | Subscription (%) | Shares Bidded (in Crores) |
|---|---|---|
| Retail Investors | 26% | 2.59 |
| Non-Institutional Investors | 13% | 1.30 |
| Qualified Institutional | 5% | 0.50 |
| Employees | 79% | 0.38 |
Market Expectations
Despite the slow start, market experts remain cautiously optimistic about the Hyundai IPO. Analysts believe that investor participation might pick up pace on the final day of bidding, October 17.
Many expect the company’s strong market presence, particularly in India’s automobile sector, to drive last-minute interest.
Allotment and Listing Dates
- IPO Allotment: The allotment of shares is scheduled for October 18, 2024.
- Refunds: Refunds for unsuccessful bids will be processed by October 21, 2024.
- Listing Date: Hyundai Motor India shares will list on the BSE and NSE on October 22, 2024.
Conclusion
With only 18% of the subscription completed, Hyundai’s IPO has had a modest start. However, as Day 2 continues, investors and analysts alike will be watching closely to see if momentum builds in the final stretch. Stay tuned for more updates on Hyundai Motor India’s IPO journey.
Disclaimer
The information provided is based on market research as of October 16, 2024. Always consult financial experts before making investment decisions.