Shares of Hyundai Motor made a muted debut on the bourses on Tuesday, October 22, as they listed at ₹1,934 on NSE, a discount of 1.3 percent to the issue price of ₹1,960. Meanwhile, on BSE, it listed at ₹1931, down 1.5 percent.
The initial public offering (IPO), valued at ₹27,870.16 crore, is India’s largest public offering to date. It was open for subscription from October 15 to October 17. The public offer was priced in the range of ₹1,865-1,960 per share.
Following the three days of bidding, the IPO closed with a decent but less-than-anticipated demand, garnering 2.37 times bids. The IPO received bids for 23.63 crore shares against 9.89 crore shares on offer. The retail investor and non-institutional investors segments were not fully in the three days of bidding. The first one was booked 0.50 times, while the NII category saw a subscription of 0.6 times. The qualified institutional buyers (QIB) quota was the only segment that was fully subscribed, with 6.97 times bids.
About The IPO
Hyundai Motor was entirely an offer for sale (OFS) of 14.22 crore shares with no fresh issue component. Post the issue, promoter shareholding in the company will be reduced to 82.5 per cent. The company raised ₹8,315.28 crore from anchor investors on October 14, 2024. Retail investors could apply with a minimum lot size of seven shares, requiring a minimum investment of ₹13,720.
About The Company
Incorporated in May 1996, Hyundai Motor India Limited is part of the Hyundai Motor Group, the world’s third-largest auto (OEM) by passenger vehicle sales. The company is known for producing reliable, feature-rich, and technologically advanced four-wheeler passenger vehicles, along with manufacturing key components like transmissions and engines.
Hyundai India IPO Employee Reservation
Hyundai Motor India’s IPO includes a reservation of 7,78,400 shares for employees at a discounted price of ₹186 per share. This segment has seen strong demand, being oversubscribed by 1.43 times during the bidding period.
