The allotment of shares for Hyundai IPO is set to take place today, Friday, October 18, 2024. The three-day bidding period for the IPO concluded yesterday, with good investor participation.
Priced between Rs 1,865 and Rs 1,960 per share and with a minimum lot size of 7 shares, the public issue saw bids for 23.63 crore shares, compared to the 9.98 crore shares available. This resulted in the IPO being oversubscribed by 2.37 times by the final day of bidding.
Hyundai IPO Allotment
The allotment for Hyundai Motor India Limited’s IPO will be finalized on Friday. Although the IPO had a slow start, a strong response from Qualified Institutional Buyers (QIBs) boosted the overall subscription.
Opening on October 15, Hyundai’s IPO initially saw hesitant investor participation. By the time the bidding closed on Thursday, October 17, 2024, the IPO was subscribed more than twice. Investor caution stemmed from concerns about valuations and a declining grey market premium, leading to lower subscription numbers compared to recent offerings.
In total, Hyundai’s IPO was subscribed 2.37 times. The retail investor category saw a 0.50 times subscription, non-institutional investors (NIIs) subscribed 0.60 times, while QIBs took the lead with a subscription rate of 6.97 times by 5:15 PM on October 17, 2024.
Investors who applied for the Hyundai IPO can check their allotment status online. To do this, they can visit the BSE website or the website of Kfin Technologies Limited, the official registrar for the IPO.
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How to Check Hyundai IPO Allotment Status?
If you applied for the Hyundai IPO, follow these steps to check your allotment status online:
Via the BSE Website:
- Visit the BSE allotment status page.
- Select “Equity” as the issue type.
- Choose “Hyundai Motor India Ltd” from the dropdown list.
- Enter your application number and PAN card details.
- Complete the CAPTCHA and click “Submit.”
Via the KFin Technologies Website:
- Go to KFin Technologies’ allotment status portal.
- Select “Hyundai Motor India Ltd” from the dropdown.
- Choose to check the allotment using your Application Number, Demat Account, or PAN.
- Enter the required details and solve the CAPTCHA.
- Click “Submit” to view your allotment status.
Hyundai IPO GMP Today
The grey market premium (GMP) for Hyundai Motor India’s unlisted shares has continued to drop. Currently, the shares are trading at a discount of around Rs 30 compared to the upper IPO price of Rs 1,960, showing a GMP of -2%, according to sources tracking grey market trends.
This is a significant decline from the Rs 147 premium observed on October 9, when Hyundai announced its price band.
Hyundai IPO Expected Listing Price
Hyundai Motor India shares are set to list on the BSE and NSE on Tuesday, October 22, 2024. If the current grey market trends persist, the shares may see a weak listing, potentially debuting at around Rs 1,930, reflecting a Rs 30 or 2% discount from the upper price band.
About Hyundai Motor India
Hyundai Motor India is a subsidiary of the Hyundai Motor Group, the third-largest automotive original equipment manufacturer (OEM) globally, based on passenger vehicle sales in 2023. Since Fiscal 2009, it has maintained its position as the second-largest auto OEM in India’s passenger vehicle market by domestic sales, according to the CRISIL Report.
The company offers a diverse range of 13 models, covering sedans, hatchbacks, SUVs, and electric vehicles (EVs). Hyundai Motor India also produces essential vehicle components, such as transmissions and engines.
Since Fiscal 2005, Hyundai Motor India has been the leading exporter of passenger vehicles, holding the highest cumulative export figures through the first 11 months of Fiscal 2024. From 1998 to March 31, 2024, the company has sold nearly 12 million passenger vehicles in both domestic and export markets.
Also Check: Bajaj Housing Finance IPO
Hyundai IPO Allotment FAQs
Q.1. When will the Hyundai IPO allotment be finalized?
Ans. The Hyundai IPO allotment will be finalized on Friday, October 18, 2024.
Q.2. How can I check the allotment status of the Hyundai IPO?
Ans. You can check your allotment status on the BSE website or KFin Technologies’ portal using your application number and PAN.
Q.3. What is the grey market premium (GMP) for the Hyundai Motor India IPO?
Ans. As of today, the Hyundai IPO shares are trading at a discount of Rs 30, with a GMP of -2%.
Q.4. When will Hyundai Motor India shares be listed on the stock exchanges?
Ans. Hyundai Motor India shares will be listed on the BSE and NSE on Tuesday, October 22, 2024.
Q.5. What is the expected listing price for Hyundai Motor India shares?
Ans. Based on current GMP trends, Hyundai shares may list at around Rs 1,930, reflecting a 2% discount from the upper price band of Rs 1,960.
