Hyundai Motor IPO booked over 2.3 times, receives bid worth over ₹46,300 crore despite tepid retail subscription

The Hyundai Motor India Limited IPO was booked more than two times on Thursday, October 17, the last day of bidding, driven by strong demand from Qualified Institutional Buyers (QIBs).

According to NSE data, Hyundai Motor India Limited's initial public offering was booked 2.37 times at the end of the subscription at 5 pm.

Hyundai Motor India IPO received bids for over 23.63 crore shares across categories compared to over 9.97 crore shares on offer. The retail portion was booked 50% with applications for 2.49 crore shares against nearly 4.95 crore shares reserved for the category.

The mainboard issue was booked 60% by the Non-Institutional Investors (NIIs). The issue received bids for over 1.27 crore shares compared to 2.12 crore shares set aside for the category. The Qualified Institutional Buyers (QIBs) subscribed to their quota 6.97 times, with applications for over 19.72 crore shares against 2.82 crore shares reserved for them.

The company's employees placed bids for 13.56 lakh shares, compared to 7.78 lakh shares set aside for the category. The issue was booked 1.74 times by the company's employees.

Hyundai Motor India IPO: Share allotment status, listing date

Subsequent to the closing of the bidding window, Hyundai Motor India IPO share allotment status is expected to be finalised on Friday, October 18. Refunds will be initiated for unsuccessful bidders on Monday, October 21, and shares of Hyundai Motor India will be credited to the Demat accounts of successful bidders the same day.

The tentative listing date for Hyundai Motor India shares has been fixed as Tuesday, October 22. Shares will be listed on both the NSE and BSE.

Investors, who applied for shares of Hyundai Motor India IPO, can check the share allotment status online via the websites of the issue’s registrar, Kfin Technologies Limited.

The IPO share allotment status can also be checked on the BSE and NSE websites.

Steps to check Hyundai Motor India IPO share allotment status on NSE:

• Go to the NSE IPO allotment status page: www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Enter your username and password to log in (New users will have to create a login ID afresh on the NSE website)
• Select ‘Hyundai Motor India’ from the drop-down menu for company names
• Enter PAN details
• Type in IPO application Number
• Click the ‘I am not a Robot’ checkbox
• Click the ‘Submit’ button

The Hyundai Motor India IPO share allotment status can also be checked on the BSE website by using the PAN and IPO application number.

Here’s how to check Hyundai Motor India IPO share allotment status on the registrar's website

• Go to the IPO allotment status page on Kfin Technologies website: https://ris.kfintech.com/ipostatus/
• Select 'Hyundai Motor India' from dropdown
• Type in your application number/PAN/Demat account number
• Enter the captcha and click on submit and the share allotment status will be shown on the screen

It’s important to note that the IPO allotment details will only appear on screen after the finalisation of share allocation by the company.

Hyundai Motor India IPO offer size, price band and other details

Hyundai Motor India aims to raise ₹27,870.16 crore through its public issue. The book-built issue consists entirely of an offer-for-sale (OFS) of 14.22 crore shares. The price band for the issue was fixed at ₹1,865 to ₹1,960 per share. The minimum lot size for retail investors was fixed at 7 shares, which aggregated to an investment of ₹13,720.

Hyundai Motor India IPO objective

Hyundai Motor India will not receive any proceeds from the public issue. The funds will go to the Promoter selling shareholder (Hyundai Motor Company) after deduction of issue related expenses and taxes.

About Hyundai Motor India Limited

Hyundai Motor India Limited was incorporated in May 1996. The company is a part of the multinational Korean automaker Hyundai Motor Group. Hyundai Motor India sells four wheeler passenger vehicles and undertakes the manufacturing of automotive components such as transmissions and engines. The company sold nearly 12 million passenger vehicles in India and through exports as of March 31, 2024.