Hyundai Motor India IPO Listing Date: As the share allotment of the Hyundai Motor India IPO has been finalised, all eyes are on its listing on October 22. According to grey market data, Hyundai Motor India’s shares are likely to be listed on stock exchanges at a discount or at the issue price.
The initial public offering of Hyundai Motor India Ltd (HMIL), the Indian arm of South Korean automaker Hyundai, which was opened between October 15 and October 17 for public subscription, received a 2.37 times subscription. The Rs 27,870.2-crore IPO, which is a complete offer-for-sale (OFS) where the company’s South Korean parent will be diluting some of the stake, received bids for 23,63,26,818 shares as against the 9,97,69,810 shares on offer.
While the QIB category recieved the most subscription (6.97 times) pushing the overall subscription numbers, the other categories remained unfilled — the retail quota subscribed by just 0.50 times and the non-institutional investor (NII) quota received 0.60 times subscription.
The Hyundai Motor India IPO is India’s biggest IPO comfortably surpassing LIC’s Rs 21,000-crore IPO, which was until now the biggest IPO in the country’s history.
The price band of the much-awaited IPO was fixed in the range of Rs 1,865 to Rs 1,960 per share.
Hyundai Motor India IPO GMP Today
According to market observers, unlisted shares of Hyundai Motor India Ltd are trading just Rs 5 higher in the grey market than its issue price. The Rs 5 grey market premium or GMP means the grey market is expecting a 0.26 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
The GMP was minus Rs 32 on Friday, October 18, which indicated a negative listing.
The GMP of the Hyundai Motor India IPO has been falling consistently from Rs 175 on October 9 to just Rs 5 on the final day of bidding on Wednesday.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Hyundai Motor India IPO: How to Check Allotment Status?
Once the IPO allotment is finalised, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Hyundai Motor India Ltd’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime India Pvt Ltd’s portal — https://ipostatus.kfintech.com/ and check the Hyundai Motor India IPO allotment status.
Hyundai Motor India IPO: More Details
Hyundai Motor India commenced operations in India in 1996 and currently sells 13 models across segments.
In its draft papers, Hyundai Motor India said, “Further, our Company expects that listing of the Equity Shares will enhance our visibility and brand image and provide liquidity and a public market for the Equity Shares in India.”
Hyundai set up its India operations in 1996, starting off with the Santro hatchback, once its most sold car. Hyundai holds India’s no.2 carmaker spot, coming in behind Maruti Suzuki. It currently has a roughly 15% share in the country’s competitive car market. It sold 614,721 cars in India and exported 163,155 units in the year to March 2024
Hyundai has one factory outside of Chennai in southern Tamil Nadu state, also dubbed the Detroit of Asia. The factory has a capacity of 824,000 units per year and is running at a utilisation rate of 94 per cent, leaving little room for growth that would help compete with Maruti Suzuki.
Hyundai aims to reach production of about 1 million units a year with the acquisition of a former General Motors plant in western Maharashtra state. The plant is expected to start operations only by the second half of the year to March 2026.
Hyundai has 1,377 dealers across India. In India, the carmaker sells 13 models, with the ‘Creta’ and ‘Venue’ sport utility vehicles as well as the ‘Grand i10 Nios’ hatchback among its top-selling models.
Hyundai’s current factory is also a key export hub, which manufactures cars that are shipped to South Africa, the Middle East as well as Latin America.
Citi, HSBC Securities, JP Morgan, Kotak Mahindra Capital and Morgan Stanley are the investment banks advising on the transaction and law firm Shardul Amarchand Mangaldas is the company counsel. Cyril Amarchand Mangaldas is the banks’ counsel and Latham and Watkins is acting as the international counsel.
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