Hyundai IPO Sees 2.37x Subscription on Day 3

The most-awaited Hyundai Motor India IPO opened for subscription on Tuesday, October 15, 2024, and closed today, October 17, 2024. Share allotment is expected to be finalised on Friday, October 18, 2024, with shares expected to be listed on both the NSE and BSE on Tuesday, October 22, 2024.

This IPO is a complete offer-for-sale (OFS) of 142,194,700 equity shares by its promoter, Hyundai Motor, with no new shares being issued. The price band for the IPO is set between ₹1,865 and ₹1,960 per share. Retail investors are required to purchase a minimum lot of 7 shares, which amounts to a minimum investment of ₹13,720.

According to the RHP, the company will not receive any proceeds from the offer. Instead, the promoter-selling shareholder will receive the entire offer proceeds after deducting offer-related expenses and applicable taxes, which will be borne by the promoter-selling shareholder.

Hyundai IPO Subscription Status

• On October 15, 2024, Day 1, Hyundai Motor India IPO was subscribed 0.18 times overall, with the retail category seeing a subscription of 0.27 times, QIB at 0.05x, and NII at 0.13x. 
• On Day 2, October 16, 2024, Hyundai IPO was subscribed 0.42 times where the retail category was subscribed 0.38x, QIB at 0.58x, and NII at 0.26x. 
• On Day 3, October 17, 2024, Hyundai IPO was subscribed to 2.37x. QIBs subscribed 6.97x, NIIs subscribed 0.60x, and retail investors subscribed 0.50x. 

As Hyundai Motors prepares for its stock listing, the Hyundai Motor Share Price is expected to draw attention from investors eager to see its post-IPO performance.

Now that Hyundai’s IPO has closed, investors will be closely watching the company’s progress and upcoming developments. Market performance and growth strategies will be key factors in maintaining investor confidence. The focus will now shift to the listing and future growth trajectory.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.