Hyundai Motor India’s Initial Public Offering (IPO) has been one of the most anticipated events in the Indian stock market. The IPO, which opened for subscription from October 15 to October 17, 2024, is the largest in India, valued at ₹27,870.16 crore. Investors are now waiting for the announcement of the allotment status, which is expected to be finalized today, October 18, 2024.
Key Details About Hyundai Motor India IPO
The Hyundai IPO had a price band set between ₹1,865 and ₹1,960 per share. It was entirely an offer for sale, meaning the company did not issue new shares but sold existing ones. The total number of shares offered was 14.22 crore equity shares.
The IPO was subscribed 2.37 times overall, showing solid interest from investors. The Qualified Institutional Buyers (QIBs) category saw the highest demand, with a subscription rate of 6.97 times. On the other hand, the retail investor portion was subscribed 50%, and Non-Institutional Investors (NIIs) booked 60%. Employees also showed interest, with their portion being subscribed 1.74 times.
Checking Hyundai IPO Allotment Status Online
Investors who applied for Hyundai’s IPO can now check the allotment status online. It’s a simple process, and you can use either the BSE website or the website of Kfin Technologies, the registrar for the Hyundai IPO.
The steps to Check Allotment on BSE Website:
- Visit the BSE website at this link.
- Under “Issue Type,” select “Equity.”
- In the “Issue Name” dropdown, choose “Hyundai Motor India Limited.”
- Enter either your application number or PAN number.
- Verify the details by selecting “I am not a robot” and click on “Search.”
Your Hyundai IPO allotment status will appear on the screen.
The steps to check allotment on the KFin Technologies website:
- Visit Kfin Technologies’ IPO status page at this link.
- Select “Hyundai Motor India Limited” from the dropdown.
- Choose either Application No, Demat Account, or PAN to enter your details.
- Enter the Captcha code and click “Submit.”
The allotment status will be displayed on the screen.
If shares are not allotted to you, the refund process will start soon after the allotment is finalized. Hyundai Motor India is expected to credit shares to the eligible investors’ demat accounts on October 21, 2024. At the same time, refunds will be initiated for those who did not receive shares.
The Grey Market Premium (GMP) for Hyundai Motor India IPO is currently at ₹-33. This means the shares are trading at a discount of ₹33 below the issue price in the grey market. Based on this, the estimated listing price for Hyundai shares is around ₹1,927 per share, which is 1.68% lower than the IPO issue price of ₹1,960.
Hyundai Motor India shares are expected to be listed on the BSE and NSE on October 22, 2024. Investors are keeping a close eye on the listing, especially given the current grey market conditions.
The Hyundai Motor India IPO has generated significant interest from institutional investors, while retail investors showed moderate participation. As the allotment process concludes, investors should promptly check their allotment status and prepare for the refund or share credit process. The listing day will be crucial, as the Grey Market Premium suggests a slight discount on the IPO price, but market conditions may still affect the final outcome.
By staying informed and following the steps to check allotment, investors can manage their investment efficiently and make informed decisions.
