Hyundai IPO Opens on October 15, 2024: Check Subscription on First Day

India’s largest public offering, Hyundai IPO opens for subscription on October 15, 2024 and closes on October 17, 2024. Hyundai Motor IPO is a book-built issue of ₹27,870.16 crores. The issue is entirely an offer for the sale of 14.22 crore shares. The price band of Hyundai IPO has been set at ₹1865 to ₹1960 per share with a lot size of  7 Shares.  Hyundai IPO allotment is likely to be finalised on October 18, 2024.

The company has appointed Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities & Capital Markets Pvt Ltd, J.P. Morgan India Private Limited and Morgan Stanley India Company Pvt Ltd as the book-running lead managers of the Hyundai IPO, while Kfin Technologies Limited as the registrar for the issue. 

At 10:31 AM on October 15, 2024, Hyundai Motor IPO subscribed 0.03 times. The public issue subscribed 0.05 times in the retail category, 0.00 times in QIB, and 0.03 times in the NII category.

Hyundai IPO GMP stood at ₹45 on October 15, 2024, at 08:23 AM. Hyundai Motor IPO’s estimated listing price is ₹2005 with a price band of ₹1,960.00, (cap price + today’s GMP). The expected percentage gain/loss per share is 2.30%.

Incorporated in May 1996, Hyundai Motor India Limited is a subsidiary of the Hyundai Motor Group, the third-largest automotive original equipment manufacturer (OEM) in the world by passenger vehicle sales. The company is known for producing reliable, feature-rich, and innovative four-wheeled passenger vehicles, leveraging the latest technology. In addition to vehicles, Hyundai Motor India manufactures components such as transmissions and engines. 

With a robust network of 1,366 sales points and 1,550 service centres across India, the company provides comprehensive mobility solutions. As of March 31, 2024, it has sold nearly 12 million passenger vehicles in India and through exports, including a diverse lineup of sedans, hatchbacks, SUVs, and electric vehicles (EVs).

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.