Mumbai: Hyundai Motor India IPO, the largest IPO in India is opening on Tuesday. Hyundai Motor India IPO a book built issue of Rs 27,870.16 crore, opens for subscription on October 15, 2024 and ends on 17th October. Hyundai Motor IPO price band is fixed in the range of Rs 1865 to Rs 1960 per equity share. The retail investors are required to bid for a minimum lot size of 7 shares, for which the minimum amount of investment required is Rs 13,720. sNII category investors are mandated to apply for a minimum lot size of 15 lots, for which they need to shell out Rs 205,800, while the bNII category, 73 lots is the required mandated, amounting to Rs 1,001,560. The issue is entirely an offer for sale of 14.22 crore shares.
Hyundai Motor IPO allotment, anchor investors details
778,400 shares are reserved for employees and will be offered at a discount of Rs 186 to the issue price, the company has announced.
Hyundai Motor IPO allotment is expected to take place on October 18, 2024, while the initiation of refunds will begin on 21st October. The shares are expected to be credited to the demat account of eligible shareholders on 21st October. The Hyundai Motor shares will list on BSE, NSE with a tentative date fixed October 22.
Hyundai Motor IPO GMP
The grey market price indicates that Hyundai Motor shares are expected to make a muted debut. As per investorgain.com, the South Korean automaker giant IPO GMP is Rs 45 on early October 15 morning. With the price band set at Rs 1960, Hyundai Motor IPO share is estimated to be listed at Rs 2005, indicating a gain of meagre over 2 per cent.
Book running lead managers of the Hyundai Motor IPO: HSBC Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited and Morgan Stanley India Company Pvt, Kotak Mahindra Capital Company Limited, and Citigroup Global Markets India Private Limited. Kfin Technologies Limited is the registrar for the issue.
Hyundai Motor IPO raised Rs 8,315.28 crore from anchor investors. List of anchor investors are as follows: HDFC Life Insurance Company, BlackRock Global Funds, JP Morgan Funds, New World Fund Inc, Government of Singapore, Fidelity Funds, and SBI Life Insurance Company.
List of Mutual funds that participated in the anchor round: Axis MF, Aditya Birla Sun Life MF, Bandhan MF, SBI MF, Nippon India MF, ICICI Prudential Mutual Fund (MF), HDFC MF, Kotak MF, and UTI MF.
This is the first IPO of an automaker in over two decades in India. Maruti Suzuki had launched its IPO in 2003. Hyundai is diluting some of the stake through the OFS route.
The upper end of the price band indicates that the IPO size is at Rs 27,870 crore (USD 3.3 billion), and the company’s market valuation at around Rs 1.6 lakh crore post-issue.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Hyundai Motor IPO GMP indicates that the shares are expected to get listed at just over 2 per cent premium. The IPO price band is set at Rs 1865 to Rs 1960 per equity share. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
