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Hyundai Motor India IPO Day 1 LIVE: Issue subscribed 13%; check price band, lot size, key details and more
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4 min read | Updated on October 15, 2024, 15:19 IST
SUMMARY
Hyundai Motor India IPO Day 1 LIVE: The initial public offering of Hyundai Motor India opened for public subscription on Tuesday. The ₹27,870.1 crore issue, with a price band of ₹1,865-₹1,960 per share, will end on October 17.
Hyundai Motor India, the Indian unit of South Korean automaker Hyundai, commenced operations in India in 1996.
The part for retail investors was subscribed 24%, while the non-institutional investors (NIIs) quota was subscribed 11%. The qualified institutional buyers (QIBs) category fetched 5% subscription.
| Category | Number of Times Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 0.01 |
| Non-institutional Investors | 0.09 |
| Retail Individual Investors (RIIs) | 0.21 |
| Total | 0.13 |
Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Pvt Ltd, Morgan Stanley India Company Pvt Ltd, JP Morgan India Private Ltd and HSBC Securities & Capital Markets Pvt Ltd are the booking running lead managers. Kfin Technologies Limited is the IPO's registrar.
The portion for retail investors was subscribed 19%, while the non-institutional investors (NIIs) category fetched 8% subscription.
| Category | Number of Times Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 0.00 |
| Non-institutional Investors | 0.07 |
| Retail Individual Investors (RIIs) | 0.17 |
| Total | 0.10 |
The price range has been set at ₹1,865 to ₹1,960 per equity share.
The portion reserved for retail investors was subscribed 0.12 times, while non-institutional investors (NIIs) quota was booked 0.06 times.
| Category | Number of Times Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | 0.00 |
| Non-institutional Investors | 0.03 |
| Retail Individual Investors (RIIs) | 0.06 |
| Total | 0.04 |
| Category | Number of Times Subscription |
|---|---|
| Qualified Institutional Buyers (QIBs) | -- |
| Non-institutional Investors | 0.02 |
| Retail Individual Investors (RIIs) | 0.03 |
| Total | 0.02 |
Investors can apply for at least of seven shares worth ₹13,055 and in multiples after that.
Half of the net issue is kept aside for qualified institutional buyers (QIBs), 35% for retail individual investors (RIIs), and the remaining 15% for non-institutional investors (NIIs).
Hyundai Motor India IPO Day 1 LIVE: The much-awaited Hyundai Motor India will open for public subscription on Tuesday, October 15, at 10 am. The ₹27,870.1 crore initial share sale, with a price range of ₹1,865-₹1,960 per share, will conclude on October 17.
The initial public offering is completely an offer-for-sale of 14,21,94,700 equity without a fresh issue component. Hence, the IPO proceeds will go to the selling shareholder i.e. promoter Hyundai Motor Company (HMC).
Hyundai Motor India IPO: ₹8,315 crore raised from anchor investors
The anchor round also involved the ICICI Prudential Mutual Fund (MF), SBI MF, HDFC MF, Nippon India MF, Axis MF, Kotak MF, UTI MF, Aditya Birla Sun Life MF, and Bandhan MF.
The automaker expects the listing of shares to enhance its "visibility and brand image and provide liquidity and a public market for the shares".
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