
The much-anticipated Hyundai Motor India IPO has garnered 10% subscription on the first day of bidding as of 12:09 PM on October 15, 2024, according to BSE data. The retail investor portion saw 17% subscription, while the non-institutional investors’ quota was subscribed 7%. The portion allocated to qualified institutional buyers (QIBs) remains unsubscribed, and the employee section saw 45% subscription.
Key Highlights:
- Price Band: ₹1,865 to ₹1,960 per share.
- Subscription Period: October 15 to October 17, 2024.
- Lot Size: Minimum investment of ₹13,055 for 7 shares.
- Issue Size: ₹27,870.16 crore.
- Anchor Investors: Hyundai secured ₹8,315.28 crore from 225 anchor investors, including 21 domestic mutual funds across 83 schemes at ₹1,960 per share.
As of June 30, 2024, Hyundai Motor India operates 1,377 sales outlets across 1,036 cities and 1,561 service centers in 957 cities, marking an expansion from March 31, 2022. Hyundai Motor India is the second-largest automobile manufacturer in India and has a strong lineup of models including the i20, Creta, and Venue.
The IPO presents an attractive opportunity for investors interested in the growing automotive sector, as Hyundai continues to strengthen its market presence in India.