Hyundai IPO fully booked: Check latest subscription, GMP, allotment details

Hyundai Motor India IPO: The company's shares are set to be listed on both the BSE and NSE, with a tentative listing date of Tuesday, October 22, 2024.

In Short

• Hyundai Motors India's IPO fully subscribed by October 17
• Allotment status can be checked via KFin Tech, BSE website
• Listing on BSE and NSE expected on October 22, 2024

The initial public offering (IPO) of Hyundai Motors India has finally been fully subscribed after opening for bidding on October 15. This IPO aims to raise Rs 27,856 crore, making it the largest public offering in India’s history.

The Hyundai IPO faced a slow start, struggling to gain momentum on the first two days. Despite its significant size, the IPO didn't attract much interest initially, unlike other recent public issues that saw overwhelming demand and oversubscriptions. However, by the third day, it gained enough traction to become fully subscribed.

As of October 17, the Hyundai Motor IPO was subscribed 2.09 times. The breakdown of the subscription includes 0.45 times in the retail category, 6.23 times in the qualified institutional buyers (QIB) category, and 0.43 times in the non-institutional investors (NII) category.

Investors who have applied for the Hyundai IPO can check their allotment status through KFin Technologies Limited, the official registrar for the issue. Additionally, the allotment can be checked on the Bombay Stock Exchange (BSE) website.

The allotment for the Hyundai Motor IPO is anticipated to be finalised on Friday, October 18, 2024. The company’s shares are set to be listed on both the BSE and NSE, with a tentative listing date of Tuesday, October 22, 2024.

GREY MARKET PREMIUM

As of October 17, the last recorded grey market premium (GMP) for the Hyundai Motor IPO was Rs 14. The price band for the IPO is Rs 1,960 per share, and based on the GMP, the estimated listing price is expected to be Rs 1,974 per share, reflecting a minor gain of 0.71%.

Several brokerages have provided insights into the potential of the Hyundai IPO. Choice Equity Broking has rated the issue as a 'Subscribe for Long Term,' suggesting that Hyundai's strategy of focusing on premiumisation and expanding its market presence will benefit patient investors. Hyundai Motors has a strong track record of consistent growth and regular dividends, making it appealing to those looking for stable long-term returns.

While there are some concerns about short-term gains, other brokerages remain optimistic about Hyundai’s long-term potential. ICICI Direct and Jefferies have highlighted Hyundai’s strong market position, solid financials, and growth plans, which make it a promising investment for those willing to hold the stock over a longer period.

Hyundai Motor India is one of the leading automobile manufacturers in the country. The company is focused on expanding its capacity, launching new products, and targeting premium segments in the domestic market. These efforts are expected to drive growth in the coming years. Hyundai's plans to introduce new electric vehicles (EVs) and expand its production capacity indicate its commitment to long-term growth in India.

(Disclaimer: The views, opinions, and recommendations expressed in this article are those of experts and brokerages. They do not reflect the views of the India Today Group. It is advised to consult a qualified broker or financial advisor before making any investment decisions.)