Hyundai Motor IPO Day 1: Issue subscribed 18%; here is what Anil Singhvi thinks
Hyundai Motor IPO: Hyundai Motor Indias mega IPO, estimated to be worth Rs 27,870 crore, is open for subscription from October 15 to October 17. The companys IPO is entirely an offer for sale (OFS), which means that the auto giant wont get any of the issue proceeds. Here is what market wizard Anil Singhvi suggests market participants do.
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.
| Category | Subscription |
| Qualified institutional buyers | 5% |
| Non-institutional investors | 13% |
| Retail investors | 26% |
| Total | 18% |
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
Catch all the latest stock market updates here. For all other news stories in buzzing categories like technology, automobiles and personal finance, and much more, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.