• Source:JND
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Hyundai Motors IPO:  Hyundai Motors India's initial public offering was subscribed 0.18 times or 18% on the first day of the bidding, that is, October 15. The IPO is a completely promoter-backed sale of shares worth Rs 27,870 from Hyundai India's parent company (Hyundai Motor Company) and it is the biggest initial share sale ever in India.

Hyundai Motors IPO GMP

According to investorgain.com, shares of Hyundai Motors are not showing any buzz in the grey market as they are trading at just a premium of Rs 63. The shares are trading at Rs 2023, up 3.21% against the upper band of the price band. GMP of Hyundai Motors is 3%.

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Hyundai Motors Subscription Status Day 1

Total Consolidated Bidding - 0.18 times

TimesQualified Institutional Buyers (QIB) - 0.05 times

Non-Institutional Investors - 0.13 times

Retail Individual Investors - 0.26 times

Employees Section - 0.79 times

Hyundai IPO Details

Hyundai Motors has set a price band at Rs 1,865-1,960 per share for its IPO, which will remain open for subscription from October 15 to October 17. India's biggest-ever IPO is entirely an offer for sale from promoter Hyundai Motor Company ( HMC), with no any fresh issue component.

The Japanese automaker has brought the First IPO of the automobile sector after Maruti Suzuki, which was listed in 2003. The South Korean parent has diluted some of its stake through the OFS route. Since the public issue is completely an OFS, Hyundai Motor India Ltd, India's second-largest automaker after Maruti Suzuki, will not receive any proceeds from the IPO.

At the upper end of the price band, the size of the IPO has been pegged at Rs 27,870 crore (US$3.3 billion), and the market value of the company pegged at about Rs 1.6 lakh crore (about US$19 billion) after the issue. HMIL started operations in India in 1996 and currently sells 13 models across segments.

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