By-{Pradeep Saran} | Oct 18, 2024 | Category: News
Hyundai Motor India’s initial public offering (IPO) has concluded with an impressive 2.37x subscription, despite the overall market facing volatility and concerns about the auto sector. Investors who participated in this historic IPO are now eagerly awaiting the allotment of shares, which is expected to be completed today, October 18, 2024.
Strong Investor Response to Hyundai IPO
The ₹27,870 crore public issue attracted significant interest, particularly from institutional investors, after a slow start. By the final day, 23.63 crore shares were bid for, compared to the 9.98 crore shares on offer. This marks Hyundai Motor India’s IPO as the largest in Indian history, driven by last-minute demand from qualified institutional buyers (QIBs). However, market sentiment was dampened by selloffs in auto stocks during Thursday’s session, which affected investor confidence early on.
Grey Market Premium (GMP) Trends
Throughout the IPO’s three-day subscription window, investors closely followed the Grey Market Premium (GMP) trends. Initially, the GMP saw a sharp decline of 80%, indicating a possibly muted listing. However, GMP isn’t always a reliable predictor of market performance, so the actual listing price on October 22 will provide more clarity.
How to Check Hyundai IPO Allotment Status
For those who applied for the Hyundai IPO, checking the allotment status is easy and can be done online through the registrar’s website, KFin Technologies, or via the BSE website. Follow these simple steps:
On KFin Technologies (Registrar’s website):
- Visit the direct link to the registrar: KFin Tech IPO Status.
- Select “Hyundai Motor India Ltd” from the dropdown menu.
- Enter your PAN, application number, or DP client ID.
- Click on “Submit.”
- Your allotment status will be displayed.
On BSE Website:
- Visit the BSE website and click on the ‘Investors’ option.
- Navigate to ‘Investor Services’ and select ‘Status of Issue Application.’
- Click on ‘Application Status Check.’
- Choose ‘Equity’ as the issue type and fill in the necessary details, including your PAN.
- Click on ‘Search’ to view your status.
Listing on October 22
Hyundai Motor India shares are scheduled to list on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 22. This IPO marks the first by a major automaker since Maruti Suzuki’s listing in 2003, making it a milestone event for India’s stock market.
A Key Offer for Sale (OFS)
Hyundai Motor India Ltd is offering 14.21 crore equity shares, entirely through an offer for sale (OFS) by its promoter, Hyundai Motor Company. Since it’s an OFS, the company won’t receive any direct proceeds from this IPO. Hyundai, which began operations in India in 1996, is currently the second-largest carmaker in the country, offering 13 models across various segments.
This IPO has captured attention nationwide, and the upcoming listing will be a major event for investors and the auto industry alike.
Stay tuned for the official listing on October 22!
