 "Hyundai Motor India IPO allotment: Check status; GMP shows weak listing")
Hyundai Motor India IPO allotment today: The basis of allotment for Hyundai Motor India IPO shares is scheduled for today, Friday, October 18, 2024. The three-day subscription window to bid for the Hyundai Motor India IPO closed yesterday, receiving a decent participation from investors.
The public issue of Hyundai Motor India, which was available at a price band of Rs 1865-1960 with a lot size of 7 shares, received bids for 23,63,27,903 shares against 9,97,69,810 shares offered, thus getting oversubscribed 2.37 times by the last date of subscription.
Hyundai Motor India IPO final subscription status:
The qualified institutional buyers (QIBs) placed the highest bids for the Hyundai Motor India IPO, with a subscription rate of 6.97 times, followed by Non-institutional investors (NIIs) at 60 per cent. Meanwhile, the portion reserved for retail investors was subscribed 50 per cent by the last day of subscription.
Additionally, the quota reserved for employees has also been fully subscribed at 1.74 times.
Hyundai Motor India IPO allotment status:
The shares of Hyundai Motor India are scheduled to be allotted today. Once the allotment is finalised, investors can check the allotment status by visiting the official websites of BSE, NSE, or Kfin Technologies, the registrar for the issue. Alternatively, investors can use the following links to check the allotment status directly:
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- Check Hyundai Motor India IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx
- Check Hyundai Motor India IPO allotment status on Kfin Technologies: https://ipostatus.kfintech.com/
- Check Hyundai Motor India IPO allotment status on NSE: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
Hyundai Motor India IPO GMP today:
The grey market premium (GMP) of the unlisted shares of the South Korean automaker's Indian arm continues to decline. The company's shares are now trading at a discount of around Rs 30 against the upper end of the IPO price of Rs 1,960, reflecting a GMP of -2 per cent, revealed the sources tracking grey market activities.
However, the Hyundai Motor India IPO’s today GMP is significantly lower than the Rs 147 recorded on October 9, when Hyundai Motor announced its price band, according to sources tracking grey market activities.
Hyundai Motor India expected listing price
Shares of Hyundai Motor India are scheduled to list on the BSE and NSE on Tuesday, October 22, 2024. If the current trends in the grey market sustain, Hyundai Motor India shares may post a weak listing or list at around Rs 1,930, a discount of merely Rs 30 or 2 per cent from the upper band of the issue price.
About Hyundai Motor India:
Hyundai Motor India is a part of the Hyundai Motor Group, the world's third-largest auto original equipment manufacturer (OEM) based on passenger vehicle sales in CY2023. It has been the second-largest auto OEM in the Indian passenger vehicles market since Fiscal 2009, in terms of domestic sales volumes, according to the CRISIL Report.
The company's portfolio consists of 13 models across multiple passenger vehicle segments, including sedans, hatchbacks, sports-utility vehicles (SUVs), and battery electric vehicles (EVs". HMIL also manufactures parts, such as transmissions and engines.
HMIL has been India's largest exporter of passenger vehicles from Fiscal 2005 to the first 11 months of Fiscal 2024, having exported the highest cumulative number of passenger vehicles for the same period. Since 1998 and up to March 31, 2024, HMIL has cumulatively sold nearly 12 million passenger vehicles in India and through exports.