Hyundai Motor India IPO: There is relief news for automobile company Hyundai Motor India, which has launched the biggest IPO in the history of the Indian stock market. Hyundai Motor India’s mega-IPO of Rs 27870 crore has been fully subscribed. According to BSE data, till 1.57 pm the IPO was filled 2.09 times. Today Thursday, October 17, 2024 is the last day to apply for IPO.
According to BSE data, institutional investors have played a major role in fully subscribing the mega-IPO of Hyundai Motor India. The category of Qualified Institutional Buyers has been filled 6.23 times. However, a weak response is being seen from investors belonging to non-institutional investors category and retail investors category. The quota for non-institutional investors could be filled only 0.43 times and the category of retail investors could be filled only 0.45 times. However, the reserved category for employees has been filled 1.61 times. Employees have also been given a discount of Rs 186 per share.
Hyundai Motor India’s IPO is open from 15 to 17 October. The company has fixed the price band at Rs 1865 to Rs 1960 at the face value of Rs 10. Retail investors can apply for a minimum lot of 7 shares for which they will have to pay Rs 13,720. The basis of allotment will be decided on 18 October 2024. Shares will be credited to the demat accounts of successful investors on Monday 21st October. Hyundai Motor India IPO will be listed on BSE and NSE on 22 October 2024.
Many brokerage houses have advised investors to invest in Hyundai Motor India’s IPO for the long term. Which includes Anand Rathi, ICICI Direct, Motilal Oswal, SBI Securities, Bajaj Broking, Aditya Birla Money. In the gray market, Hyundai Motor India’s IPO has lost all its gains and the GMP of the IPO is trading today with a rise of Rs 14 or 0.71 per cent. That means if GMP is to be believed then the listing may remain lackluster.
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