- By Aditya Pratap Singh
- Thu, 17 Oct 2024 04:53 PM (IST)
- Source:JND
Hyundai Motors IPO Subscription Rate: The South Korean automaker Hyundai's Indian arm, Hyundai Motor India Ltd IPO, received a full subscription on the third day of bidding on Thursday. The Rs 27,870-crore initial public offering (IPO) received a bid for 23,61,81,610 shares against 9,97,69,810 allotted shares, according to NSE Data. According to NSE, the IPO received 2.37 times subscriptions till 4:42 pm.
Hyundai Motors IPO Subscription Status
The quota of qualified institutional buyers (QIBs) got 6.97 times the subscription while the portion reserved for retail individual investors (RIIs) received 50 per cent or 0.50 times of subscriptions. The non-institutional investor segment accounted for 60 per cent or 0.60 times of subscriptions. Earlier, Hyundai Motors India raised Rs 8,315 crore from anchor investors on October 14.
Hyundai Motors IPO GMP
The grey market premium (Hyundai’s GMP) of the Hyundai Motors IPO has dropped substantially to almost flat. The shares of the automobile manufacturer are currently trading at a low premium of Rs 14 in the grey market. According to investorgain.com, the shares are trading at Rs 1,974 with a gain of 0.71% against the price band of Rs 1,960. Earlier, shares of Hyundai Motors India were trading at a premium of around Rs 60 in the grey market.
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Hyundai Motors IPO Details
- Hyundai Motors India IPO is the largest IPO in India, it has surpassed LIC's Rs 21,000 crore public offering.
- The price band for Hyundai Motors IPO has been set at Rs 1,865-1,960 per share.
- It is an entirely offer for sale (OFS) from the promoter Hyundai Motor Company (HMC), and there is no fresh issue component.
- The IPO is open for subscription between October 15 to 17.
- Hyundai Motors IPO lot size- Investors have to bid in a lot of 7 shares.
- Hyundai Motors India IPO is the first initial share sale from the car manufacturing segment after Japanese carmaker Maruti Suzuki brought IPO more than two decades ago in 2003.
- Hyundai Motors IPO size is pegged at Rs 27,870 crore.
