Hyundai Motor India has recently concluded its initial public offering (IPO), marking a significant event in the Indian stock market. As of October 18, 2024, the allotment of shares is expected to be finalized today. The IPO, which opened for subscription from October 15 to October 17, has garnered considerable interest from investors, leading to a noteworthy subscription rate.
Main Points
Full Details of the Hyundai Motor India IPO
Subscription Overview
The Hyundai Motor India IPO was a massive success, being oversubscribed by 2.37 times. The total issue size was approximately ₹27,870 crore, with bids received for around 23.63 crore shares against the 9.98 crore shares available for subscription. This strong demand was primarily driven by institutional investors, particularly qualified institutional buyers (QIBs), who subscribed 6.97 times their allocated portion. In contrast, non-institutional investors (NIIs) subscribed at a rate of only 0.60 times, while retail investors showed a subscription rate of 0.50 times and employees participated at 1.74 times their quota.
Allotment Status and How to Check It
Today marks the day when investors can check the allotment status of their shares. There are several ways to verify if you have received shares from the Hyundai Motor India IPO:
- KFin Technologies: Investors can visit the KFintech website and follow these steps:
- Select ‘Hyundai Motor’ from the dropdown menu.
- Enter your PAN number, application number, or Demat account details.
- Click on the ‘Search’ button to view your allotment status.
- Bombay Stock Exchange (BSE):
- Go to the BSE website.
- Navigate to ‘Investor Services’ and select ‘Status of Issue Application.’
- Fill in your details and click ‘Search.’
- National Stock Exchange (NSE):
- Visit the NSE website and follow similar steps as above.
Grey Market Premium (GMP) Analysis
The grey market premium (GMP) is an important indicator for potential investors as it reflects market sentiment about the stock’s performance post-listing. Currently, the GMP for Hyundai Motor India shares has turned negative, showing a decline of about ₹30 from the upper price band of ₹1,960, indicating a GMP of -₹2. This is a significant drop from earlier levels where it was recorded at ₹147 on October 9. The negative GMP suggests that investors may expect a muted listing when shares officially debut on the stock exchanges.
Key Dates Related to the IPO
- IPO Open Date: October 15, 2024
- IPO Close Date: October 17, 2024
- Allotment Date: October 18, 2024
- Refunds Processed By: October 21, 2024
- Shares Credited to Demat Accounts: October 21, 2024
- Listing Date on BSE and NSE: October 22, 2024.
Investor Insights
Investors are keenly observing market trends as they await the listing date. While institutional interest has been strong, retail participation has lagged behind expectations. This could be attributed to broader market volatility and uncertainties surrounding the auto sector’s performance. Despite these challenges, Hyundai Motor India remains a key player in the automotive industry, being the second-largest car manufacturer in India since 2009 and a significant exporter since 2005.
Conclusion
The Hyundai Motor India IPO represents a pivotal moment not just for the company but also for potential investors looking to capitalize on its market presence and growth prospects. With robust institutional backing and an extensive product portfolio that includes sedans, SUVs, and electric vehicles, Hyundai’s future in India looks promising despite current market fluctuations.
