• Source:JND
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Hyundai IPO Subscription Status: The Rs 27,870 crore IPO, India's biggest ever initial share sale, of Hyundai India subscribed 55 per cent on the third and final day of bidding on Thursday till noon. The Hyundai Motors India IPO is struggling to attract investors as shares allotted to retail investors got 0.42 times or 42% bidding, Non-Institutional Investor sector received 0.32 times or 32 per cent subscription, and the Qualified Institutional Buyers quota subscribed 0.91 times 91% of the allotted shares. 

India's biggest IPO shares are not showing any sign of bumper listing in the grey market as they are trading at just a Rs 14 premium on Thursday. Earlier on October 14, Hyundai Motors India raised Rs... from anchor investors.

Hyundai Motors India IPO Subscription Status (Till 12:00 Pm on Thursday)

Qualified Institutional Buyers (QIB) - 0.91 times or 91 Percent
Non-Institutional Investors - 0.32 times or 32 percent
Retail Individual Investors (RIIs) - 0.42 times or 42 per cent
Employees Section - 1.51 times or 150%

So far the initial share sale has received a bid for 5,45,28,537 shares against 9,97,69,810 allotted shares.

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Hyundai Motors IPO GMP

The grey market premium (GMP of Hyundai) of Hyundai Motors IPO has fallen significantly to almost flat. The shares are trading at just 14 rupees premium in the grey market today. According to investorgain.com, the shares are trading at Rs 1974, up 0.71%, against the Rs 1960 price band. Earlier, the Hyundai Motors India shares were trading around a premium of Rs 60 in the grey market.

Hyundai Motors IPO Details

Hyundai Motors has fixed a price band of Rs 1,865-1,960 per share, which will be open for subscription from October 15 to October 17. Till now, India's largest IPO is an offer for sale entirely by promoter Hyundai Motor Company (HMC). , with no fresh issue elements.
The Japanese automaker is launching its first IPO in 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 fully 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).

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