Hyundai Motors IPO Subscription Status: 12% Subscription Received Till Mid-Day Bidding Period

Hyundai Motors IPO Subscription Status Day 1:  Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received a 12% subscription in the early bidding period on Tuesday for its initial public offering (IPO). As of 1:00 P.m., bids for 1,19,33,852 shares had been received against the 9,97,69,810 shares on offer in the Rs 27,870 crore initial share sale, according to NSE data.

Retail individual investors (RIIs) accounted for 19% of the subscriptions, while non-institutional investors accounted for 8%.
Hyundai Motor India Ltd raised Rs 8,315 crore from anchor investors on Monday. It is the largest IPO in the country, surpassing LIC's initial Rs 21,000 crore share sale.

Also read: Hyundai Motors India IPO Day 1: Rs 27,870 Crore Public Issue Opens For Retail Investors; Know Subscription Status, Latest GMP And Other Details

Hyundai IPO Details

The IPO, priced at Rs 1,865-1,960 per share, will be open for public subscription from October 15 to October 17. The IPO is entirely an offer for sale (OFS) of 14,21,94,700 equity shares of promoter Hyundai Motor Company (HMC), with no fresh issue component.
It is the first initial share sale by Japanese automaker Maruti Suzuki in more than two decades since it was listed in 2003. The South Korean parent has diluted some of its stake through the OFS route.

Since the public issue is entirely 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 IPO size is pegged at Rs 27,870 crore (US$3.3 billion), and the company’s market value is pegged at about Rs 1.6 lakh crore (about US$19 billion) post-issue. HMIL started operations in India in 1996 and currently, sells 13 models across segments. 

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(With Agencies Input)