Hyundai Motor India’s highly anticipated initial public offering (IPO) closed with a strong finish, being subscribed 2.37 times on the final day. The ₹27,870 crore public issue received bids for 23.63 crore shares against the 9.98 crore shares available, primarily driven by strong demand from qualified institutional buyers (QIBs) after a slow start.
The three-day subscription window, which ended on Thursday, witnessed a surge of interest on the last day despite initial concerns related to market volatility and a weakened outlook for the auto sector. On the final day of the IPO, auto stocks faced heavy sell-offs, adding to investor caution.
Hyundai IPO Allotment Date and Process
Investors who participated in the Hyundai Motor India IPO can expect the share allotment to be completed today, October 18, 2024. The shares are expected to list on both BSE and NSE on October 22, 2024.
Here’s how to check the IPO allotment status online:
Hyundai IPO Allotment Status: Direct Link to Check on KFin Tech
- Open the registrar’s website using this URL: KFin Tech Allotment Status.
- Select “Hyundai Motor India Ltd” from the dropdown menu.
- Fill in your PAN number, Application number, or DP client ID.
- Click “Submit” to view your allotment status.
Hyundai IPO Allotment Status: How to Check on BSE
- Visit the BSE Website.
- Under the “Investors” section, click on “Status of Issue Application.”
- Select “Equity” in the issue type.
- Fill in your details, including PAN number and Issue Name.
- Click “Search” to check your allotment status.
Key Highlights of Hyundai IPO
- Total Subscription: The IPO was subscribed 2.37 times.
- Offer Size: ₹27,870 crore, the largest IPO in India’s history.
- Anchor Investment: Hyundai Motor India raised ₹8,315 crore from anchor investors.
- GMP (Grey Market Premium): While the GMP fell sharply by nearly 80% during the bidding period, it is not necessarily reflective of the actual listing performance.
- OFS Structure: The entire IPO is an offer for sale (OFS) by Hyundai Motor Company, with no fresh issue component, meaning HMIL will not receive any proceeds from the IPO.
This IPO marks the first public issue by an automaker in over two decades since Maruti Suzuki’s listing in 2003.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
