Hyundai Motor IPO | Business Upturn

Check Hyundai Motor IPO’s GMP ahead of listing

Aditya Bhagchandani — Mon, 21 Oct 2024 03:40:36 +0000

The Hyundai Motor IPO is set to list Tomorrow, October 22, 2024, and all eyes are on the stock after the fluctuating grey market premium (GMP) performance. Initially, the GMP surged to ₹1,000, indicating high investor interest and confidence. However, the premium saw a significant dip, going as low as -₹80. Recently, it has recovered to ₹95, indicating a 4.85% premium over the issue price, with the expected listing price around ₹2,055.

Hyundai Motor IPO Highlights:

IPO Size: ₹27,870.16 crore
Offer for Sale: 14.22 crore shares
Price Band: ₹1,865 to ₹1,960 per share
GMP: Initially at ₹1,000, currently ₹95+
Expected Listing Price Tomorrow: ₹2,055

Key Financials:

Revenue Growth: 16% increase from FY23 to FY24
Profit After Tax (PAT): Rose 29% YoY, from ₹4,709.25 crore in FY23 to ₹6,060.04 crore in FY24.

Despite the volatility, Hyundai Motor’s IPO remains highly anticipated, with strong financials and a positive GMP ahead of listing on the BSE and NSE Tomorrow. Investors are closely watching the market debut, especially after the fluctuating GMP performance in the run-up to the listing.

Hyundai Motor IPO oversubscribed 2.3 times on final day, QIB portion subscribed almost 7 times

Aditya Bhagchandani — Thu, 17 Oct 2024 11:58:08 +0000

The Hyundai Motor India Limited IPO has concluded successfully on its final day with a total subscription of 2.37 times. Here’s a breakdown of the final subscription figures across different investor categories:

Qualified Institutional Buyers (QIBs): Oversubscribed 6.97 times, with 19.72 crore shares bid for against 2.82 crore shares reserved.
Non-Institutional Investors (NIIs): Subscribed 0.60 times, with 1.27 crore shares bid for against 2.12 crore shares reserved.
- Investors bidding for more than ₹10 lakh: Subscribed 0.58 times.
- Investors bidding for between ₹2 lakh and ₹10 lakh: Subscribed 0.65 times.
Retail Individual Investors (RIIs): Subscribed 0.50 times, with 2.49 crore shares bid for against 4.94 crore shares reserved.
Employee Reserved: Oversubscribed 1.74 times, with 13.56 lakh shares bid for against 7.78 lakh shares reserved.

Key Details of the Hyundai Motor IPO:

Issue Size: ₹27,870.16 crores through a book-built issue, entirely an offer for sale of 14.22 crore shares.
IPO Dates: The IPO opened for subscription on October 15, 2024, and closed on October 17, 2024.
IPO Price Band: ₹1865 to ₹1960 per share.
Allotment Date: The allotment is expected to be finalized on Friday, October 18, 2024.
Listing Date: Hyundai Motor IPO is tentatively scheduled to list on Tuesday, October 22, 2024, on both the BSE and NSE.
Lot Sizes:
- Retail Investors: Minimum lot size is 7 shares, requiring a minimum investment of ₹13,720.
- sNII (Small Non-Institutional Investors): Minimum lot size is 15 lots (105 shares), amounting to ₹205,800.
- bNII (Big Non-Institutional Investors): Minimum lot size is 73 lots (511 shares), amounting to ₹1,001,560.
Employee Reservation: Up to 778,400 shares were reserved for employees at a discount of ₹186 to the issue price.

This IPO has seen strong demand from institutional investors, with a robust oversubscription in the QIB and employee categories, marking a successful closure.

Hyundai India IPO subscribed 42% on Day 2, retail portion booked 38%; GMP declines further

Aditya Bhagchandani — Wed, 16 Oct 2024 12:30:34 +0000

The initial public offering (IPO) of Hyundai Motor India Ltd (HMIL) was subscribed 42 percent on the second day of bidding, October 16, 2024. According to NSE data, 4.17 crore shares were bid for against the 9.97 crore shares on offer as of 3 pm.

The retail individual investors (RII) portion saw 38 percent subscription, while non-institutional investors (NII) subscribed 26 percent. The qualified institutional buyers (QIB) category garnered a 58 percent subscription. Notably, the employee portion was fully subscribed, with 1.31 times the allocation booked.

Hyundai Motor India, the Indian arm of South Korean automaker Hyundai, raised Rs 8,315 crore from anchor investors on October 14, a day before the IPO opened. The Rs 27,870 crore IPO surpasses the size of LIC’s IPO, making it the largest in India’s history.

The IPO, priced in the range of Rs 1,865-1,960 per share, remains open until October 17, and the entire offer is an Offer for Sale (OFS) by the parent company, Hyundai Motor Company (HMC). There is no fresh issue component, meaning the proceeds will go to the promoter HMC, not HMIL.

GMP and market performance

Hyundai India’s shares are commanding a grey market premium (GMP) of around Rs 35, representing a modest 2 percent premium over the issue price. This indicates a decline in investor sentiment in the unofficial market, with the GMP falling to around 3 percent shortly before the IPO opened.

Hyundai India’s IPO marks the first by an automaker in over two decades, following Maruti Suzuki’s listing in 2003. The company expects the listing to enhance its visibility and brand image and to provide liquidity in the market for its shares.

Shares of Hyundai India will be listed on NSE and BSE on October 22, while allotment to successful bidders is scheduled for October 18. Post-listing, the company’s market capitalisation is expected to be around Rs 1.6 lakh crore.

Hyundai Motor IPO subscribed 18% till end of Day 1

Aditya Bhagchandani — Tue, 15 Oct 2024 11:59:31 +0000

Hyundai Motor India’s Initial Public Offering (IPO), the largest in India’s history, witnessed an 18% subscription on its first day. According to the latest data, the subscription figures show strong interest from retail individual investors and employees, with an overall significant participation across investor categories.

Key subscription highlights for Day 1:

Qualified Institutional Buyers (QIBs): Subscribed 0.05 times
Non-Institutional Investors (NIIs): Subscribed 0.13 times
Retail Individual Investors (RIIs): Subscribed 0.26 times
Employee Reserved Category: Subscribed 0.80 times

The IPO opened for public subscription on October 15, 2024, and will continue until October 17, 2024. Hyundai is offering shares in the price band of ₹1,865 to ₹1,960 per share with a minimum bid lot size of 7 shares.

With a total issue size of ₹27,856 crore, this IPO has garnered significant attention from retail and institutional investors alike, making it one of the most anticipated offerings of the year. The allotment will be finalized on October 18, 2024, with listing on the exchanges slated for October 22, 2024.

Hyundai Motor India, a leading player in the Indian automotive industry, has established itself as a key contributor to the market with its diverse range of vehicles and strong market presence.

Hyundai Motor India IPO Update:10% subscribed on Day 1, retail portion at 17%, price band set at ₹1,865-1,960

Aditya Bhagchandani — Tue, 15 Oct 2024 06:58:32 +0000

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.