Hyundai Motor India – Investors subscribed to the Hyundai Motor India IPO a total of 2.37 times on the last day. Retail investors subscribed to the issue 0.50 times, qualified institutional buyers (QIB) subscribed 6.97 times, and non-institutional investors (NII) subscribed 1.11 times.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will list the company’s shares on October 22. This initial public offer opened on October 15.
Hyundai Motor India’s issue is worth ₹27,870.16 crore
This issue of Hyundai Motor India is worth a total of ₹27,870.16 crores. For this, the existing investors of the company are selling 142,194,700 shares worth ₹27,870.16 crores through Offer for Sale i.e. OFS. Hyundai is not issuing a single new share.
This is the biggest IPO of the country. Earlier, the record of the biggest IPO was in the name of LIC, which had brought an issue of ₹20,557 crores.
Retail investors could bid for a maximum of 98 shares
Hyundai Motor India Limited had fixed the price band of this issue at ₹1865-₹1960. Retail investors could bid for a minimum of one lot i.e. 7 shares. If you applied for 1 lot as per the upper price band of the IPO of ₹1960, then you would have to invest ₹13,720 for it.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 98 shares. For this, investors would have to invest ₹192,080 as per the upper price band.
Hyundai Motor India will become the fourth-largest listed auto company
Hyundai Motor will be the fourth largest company to be listed in the stock market. It will be the fourth largest automobile company after Maruti-Suzuki, Tata Motors, Mahindra & Mahindra. Hyundai Motor India is the second largest car company in the country after Maruti.
First IPO of an automaker in India in 20 years
This IPO is the first initial public offering of an automaker in India in 20 years. Earlier, Maruti Suzuki’s IPO came in 2003. Hyundai is the second largest carmaker in the country after Maruti Suzuki India.
