The highly anticipated ₹27,870 crore initial public offering (IPO) of Hyundai India has been fully subscribed, with investors showing strong interest as the offer window closes today, October 17, 2024. The IPO, which opened on October 15, consists entirely of an offer for sale (OFS) of 14.2 crore shares, being sold by the parent company, Hyundai Motor Global.
Despite a falling grey market premium (GMP) in the days leading up to the IPO, Hyundai India’s offering has sailed through, indicating robust demand among investors. Prior to the IPO, the shares were trading at a small premium of ₹65 in the unlisted market, reflecting a 3.3% premium over the IPO price.
Key Highlights of the Hyundai India IPO:
- Issue Size: ₹26,505 – ₹27,856 crore
- Offer for Sale: 142,194,000 equity shares
- Price Band: ₹1,865 – ₹1,960 per share
- Employee Reservation: Up to 778,400 shares
- Employee Discount: ₹186 per share
- Bid Lot: 7 shares and multiples thereof
The IPO’s full subscription signals positive market sentiment, and with Hyundai’s strong presence in the Indian automotive sector, the offering has garnered significant attention from investors.
