Hyundai Motor IPO Day 2: Subscription update, issue price, lot size, listing date, other key things to know
Hyundai Motor IPO: Hyundai Motor Indias mega initial public offer (IPO), worth an estimated Rs 27,870 crore, has attracted lukewarm interest so far with a booking of 18 per cent on Tuesday. The mega IPO--the first in the countrys auto space in more than 2 decades--will open for subscription for three trading days, till October 17. The companys IPO is entirely an offer for sale (OFS), which means that the carmaker 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), estimated to be worth 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 band of Rs 1,865-1,960 apiece in multiples of seven shares, which translates to Rs 13,055-13,720 per lot. As the Hyundai Motor IPO enters the second of the three days of its subscription window, here is everything market participants need to know about the share sale.
Here are key things to know about the mega Hyundai Motor India IPO:
Hyundai Motor Subscription Update
On Tuesday, the IPO received total bids for 1.78 crore shares as against the almost 10 crore shares on offer across various categories, translating to an overall subscription of about 18 per cent, according to provisional exchange data.
Read more on how Anil Singhvi views this IPO
What makes Hyundai Motor IPO special?
The issue is the largest IPO of all time in India. 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 than in 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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