Hyundai Motor IPO Day 1: Issue subscribed 18%; here is what Anil Singhvi thinks

Hyundai Motor IPO Subscription Update: Hyundai Motor India's much-anticipated initial public offer (IPO), comprising an offer for sale (OFS) worth up to Rs 27,870 crore, was subscribed 18 per cent on Tuesday, October 15, the first day of the bidding process. Under the IPO, Hyundai Motor India shares are available for bidding in a price range of Rs 1,865-1,960 apiece in multiples of seven shares, which translates to up to Rs 13,720 per lot.

Here are key things to know about the mega Hyundai Motor India IPO: 

Hyundai Motor IPO Important Dates 

The IPO is open for subscription for three trading days, till October 17. The basis of allotment will likely be finalised on October 18 and the stock listed on exchanges BSE and NSE on October 22.

Hyundai Motor Subscription Update

By 5:00 pm on Tuesday, the IPO received total bids for 1.78 crore shares as against the almost 10 crore shares on offer across various categories, according to provisional exchange data. 

What market guru Anil Singhvi thinks of Hyundai Motor IPO 

Zee Business Managing Editor Anil Singhvi suggests avoiding the IPO and considering buying only after the listing of shares. 

Only high risk-taking investors can apply for the Hyundai Motor IPO from a "very long term" perspective spanning a minimum 2-3 years, according to the market guru. 

Also, such investors should be "ready to see lower prices at listing", said Singhvi. Read more on how Anil Singhvi views this IPO

What makes Hyundai Motor IPO special?

The issue is the largest Indian IPO of all time. The IPO of Hyundai Motor, the Indian arm of South Korean auto manufacturer Hyundai, comes in a bumper year for the primary market on Dalal Street characterised by more than 250 issues with more than Rs 75,000 crore raised, much higher compared to 2023. 

It marks Hyundai's first listing outside of South Korea.

Hyundai Motor Anchor Investors

Ahead of the IPO, Hyundai Motor India raised a sum of Rs 8,315 crore from anchor investors including New World Fund, Government of Singapore, Fidelity Funds and BlackRock Global Funds and SBI Life Insurance Company. Read more on Hyundai Motor anchor investors

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