Hyundai Motor India Set to Debut After Nation’s Largest-Ever IPO
- The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees.
- The shares reportedly got oversubscribed by more than two times, valuing the IPO at 278.56 billion rupees, or $3.3 billion, making it India’s largest-ever IPO by the amount raised.
- Hyundai Motor India was set to start trading Tuesday in the country’s two major stock markets after a $3.3 billion initial public offering, the country’s largest-ever by amount raised.
- The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees. Based on the top end of the price band, the entire offering is valued at 278.56 billion rupees, or $3.3 billion.
- The company has seen its initial public offering oversubscribed by over two times, according to Reuters, pricing the shares at the top end at 1,960 rupees. The IPO opened on Oct. 15 and closed on Oct. 17.
- This is the first IPO for a unit of the South Korean automaker outside South Korea.
- Unlike a traditional IPO, in which a firm sells fresh shares, Hyundai Motor India’s listing is an offer for sale, where its parent Hyundai Motor Company sold its shares.
- The company’s shares will start trading on the New Delhi-based NSE as well as the Mumbai-based BSE.
- The lead bookrunners of Hyundai India’s IPO were Kotak Mahindra Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), J.P. Morgan India and Morgan Stanley India.
- In June, analysts told CNBC that they were optimistic on the Indian IPO market, with Neil Bahal, founder of Negen Capital saying that he expects a “record-breaking year for India with a significant number of IPOs and private equity exits.”
- “The IPOs are not because some tech company guys think they should raise money from the stock market instead of from private equity. There is amazing fundamentals in equity markets with supportive policies from SEBI [Securities and Exchange Board of India], retail participation and broad-based opportunities,” he added.
Hyundai Motor IPO Timeline (Tentative Schedule)
Hyundai Motor IPO opens on October 15, 2024, and closes on October 17, 2024.
| IPO Open Date | Tuesday, October 15, 2024 |
| IPO Close Date | Thursday, October 17, 2024 |
| Basis of Allotment | Friday, October 18, 2024 |
| Initiation of Refunds | Monday, October 21, 2024 |
| Credit of Shares to Demat | Monday, October 21, 2024 |
| Listing Date | Tuesday, October 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 17, 2024 |
- hyundai india share price
Hyundai Motor IPO Details and hyundai motor india share price
| IPO Date | October 15, 2024 to October 17, 2024 |
| Listing Date | October 22, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹1865 to ₹1960 per share |
| Lot Size | 7 Shares |
| Total Issue Size | 142,194,700 shares
(aggregating up to ₹27,870.16 Cr) |
| Offer for Sale | 142,194,700 shares of ₹10
(aggregating up to ₹27,870.16 Cr) |
| Employee Discount | Rs 186 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 812,541,100 |
| Share holding post issue | 812,541,100 |
yundai IPO Listing: Hyundai Motor India Ltd is set to make its debut in the Indian stock market today as the equity shares of the company will be listed on bourses. After witnessing a muted demand, Hyundai IPO listing date is fixed today, October 22.
The initial public offering (IPO) of Hyundai Motor India Ltd was open from October 15 to October 17 and the IPO allotment was finalized on October 18. The Hyundai IPO listing date is October 22. Hyundai Motor India shares will be listed on both the stock exchanges, BSE and NSE.
Trading Members of the Exchange are hereby informed that effective from Tuesday, October 22, 2024, the equity shares of Hyundai Motor India Limited shall be listed and admitted to dealings on the Exchange in the list of ‘A’ Group of Securities,” a notice on the BSE said.
Hyundai Motor India shares will be a part of the Special Pre-open Session (SPOS) on Tuesday, October 22, and will be available for trading from 10:00 AM.
Ahead of the share listing, Hyundai IPO GMP today, or grey market premium today, signals a muted trend. Analysts also expect Hyundai Motor India IPO listing to be on a tepid note.
Here’s what Hyundai IPO GMP and experts signal about share listing today:
Hyundai IPO GMP Today
Hyundai Motor India shares are showing a volatile trend in the grey market. Hyundai IPO GMP today is in the range of ₹65 - 70 per share. This indicates that, in the grey market, Hyundai Motor India shares are trading higher by ₹70 than their issue price.
Hyundai Motor India Share Price
Considering the Hyundai IPO GMP today, the estimated Hyundai Motor India share listing price would be in the range of ₹2,025 - 2,030 apiece, a modest premium of 3.5% to the IPO price of ₹1,960 per share.
“Considering sluggish undersubscription demand from NII’s & Retail investors and market sentiments on overvaluation concern followed by lower demand and over supply scenario in the sector, there is a very high possibility of flat to negative market debut,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.
hyundai motor share price
Hyundai Motor IPO Lot Size
Investors can bid for a minimum of 7 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|
| Retail (Min) | 1 | 7 | ₹13,720 |
| Retail (Max) | 14 | 98 | ₹192,080 |
| S-HNI (Min) | 15 | 105 | ₹205,800 |
| S-HNI (Max) | 72 | 504 | ₹987,840 |
| B-HNI (Min) | 73 | 511 | ₹1,001,560 |
Hyundai India Motor IPO Reservation
Hyundai Motor IPO offers 14,21,94,700 shares. 2,82,83,260 (19.89%) to QIB, 2,12,12,445 (14.92%) to NII, 4,94,95,705 (34.81%) to RII, 7,78,400 (0.55%) to employees and 4,24,24,890 (29.84%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|
| Anchor Investor Shares Offered | 4,24,24,890 (29.84%) | NA |
| QIB Shares Offered | 2,82,83,260 (19.89%) | NA |
| NII (HNI) Shares Offered | 2,12,12,445 (14.92%) | |
| bNII > ₹10L | 1,41,41,630 (9.95%) | 1,34,682 |
| sNII < ₹10L | 70,70,815 (4.97%) | 67,341 |
| Retail Shares Offered | 4,94,95,705 (34.81%) | 70,70,815 |
| Employee Shares Offered | 7,78,400 (0.55%) | NA |
| Total Shares Offered | 14,21,94,700 (100%) |
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