The Hyundai Motor India IPO, which stands as India’s largest IPO to date, witnessed lukewarm demand from retail investors but managed to close successfully. With the allotment finalized, investors are now focusing on the listing day, October 22, 2024.
Hyundai Motor India IPO opened for subscription from October 15 to October 17, and shares are set to be listed on both the BSE and NSE.
As of today, the grey market premium (GMP) for Hyundai IPO stands at ₹48, indicating an expected listing price 2-3% higher than the issue price. At the upper end of the price band, set between ₹1,865 to ₹1,960 per share, this implies a potential listing price of around ₹2,008.
Hyundai Motor India raised a total of ₹27,870.16 crore, offering 14.22 crore equity shares through an offer for sale (OFS). The IPO saw an overall subscription of 2.37 times, with retail investors’ portion booked at 50%, non-institutional investors (NIIs) at 60%, and qualified institutional buyers (QIBs) subscribing at 6.97 times.
Despite a modest response from retail investors, Hyundai’s massive IPO has garnered considerable attention, with the market awaiting its debut on October 22.
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