Hyundai Motor India IPO: Hyundai Motor India Limited has begun its initial public offering in the Indian primary market on 15th October 2024. Public issue for the issue will be open till 17th October 2024. Hence, Hyundai Motor India IPO subscription will be available from today - Tuesday of this week - till Thursday of this week for bidding. The auto OEM company has set the price band of Hyundai Motor India IPO at ₹1865 to ₹1960 per equity share. The book build issue is entirely an offer for sale (OFS), which means net proceeds of the public issue will not come into the company's balance sheet. Hyundai Motor India's IPO is raising ₹27,870.16 crore from the auto company.
Meanwhile, shares of Hyundai Motor India Limited are also available in the grey market. As per the stock market observers, shares of the company are available at a premium of ₹65 in the grey market today.
Hyundai Motor India IPO subscription status:
The initial public offer of Hyundai Motor India IPO has been subscribed 23% on the second day of subscription today, at 11:54 IST, as per the BSE data.
The initial public offer was bid for 2,24,52,213 shares against 9,97,69,810 shares on offer, BSE said.
Retail investors' portion received 33% subscription and the quota for non-institutional investors got subscribed 18%. The qualified institutional buyers' part is booked 5%. The employee portion has been subscribed 1.12 times.
The close of the day one book built issue had subscribed 0.18 times, the retail portion of the public issue had been booked 0.26 times, and the NII portion had been subscribed 0.13 times. QIB portion has subscribed 0.05 times.
Important Hyundai Motor India IPO details:
1] Hyundai Motor India IPO GMP: Grey market observers say, Hyundai company's shares are being sold at ₹65 premium in the grey market today.
2] Hyundai Motor India IPO price: The auto major has kept a tight price band for its public issue at ₹1865 to ₹1960 per equity share.
3] Hyundai Motor India IPO opening date: The public offering has been opened today and is open till Thursday. Bidding for this will begin on today at 10:00 AM.
4] Hyundai Motor India IPO size: This Public issue raised an auto firm ₹27,870.16 cr to finally make the OFS.
5] Hyundai Motor India IPO lot size: An applicant can bid the public issue in lots and one lot of the public issue consists of seven company shares.
6] Hyundai Motor India IPO allotment date: The most likely date of share allotment is 18th October 2024, i.e., Friday this week.
7] Hyundai Motor India IPO registrar: KFin Technologies has been hired as the official registrar of the book build issue.
8] Lead Managers to Hyundai Motor India IPO: 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 were appointed as the lead managers to the public offer.
9] Hyundai Motor India IPO list date: The book build issue will be listed on the BSE and NSE on 22nd October 2024, under the listing rule 'T+3'.
Hyundai
Motor India IPO: Apply or not?
10] Giving the Hyundai Motor India IPO a 'subscribe' tag, Gaurav Garg, Research analyst at Lemonn Markets said, "Hyundai Motor India's upcoming IPO is going to be the largest in the history of the country, giving investors a one-time chance to get a piece of the action with the country's second-largest car manufacturer. The brand has impressed with outstanding operational efficiency wherein it sources approx 90% of its parts locally which has added largely to its solid financial performance. The company has managed to deliver an impeccable revenue CAGR of 19.4% over FY21-24 and an incredible return on capital employed of above 50% in FY24. With strong financials and a diversified product portfolio, Hyundai gives a good long-term investment opportunity, even if the listing gains in the initial runs may be relatively modest".
Master Capital has also tagged a 'buy' on the book build issue, saying "the company will continue to hold its strong position by further widening its passenger vehicle portfolio with the deep understanding it holds of consumer preferences and a higher intent to increase its market share of EV. The company also intends to continue premiumizing its passenger vehicle portfolio with calibrated manufacturing capacity expansion and efficient capital allocation. The issue is fully priced, and the investors, who are interested in the company, can invest in the IPO for the long term."
The public issue has been termed as 'apply for long-term' by Shivani Nyati, Head of Wealth at Swastika Investment. "IPO is fully priced and this may restrain listing gains considerably. It is an OFS, and the company will not raise any proceeds. Due to its large size, this IPO would not be easy to achieve listing gains of reasonable magnitude." Investors with long-term view who can tolerate listing challenges may look to apply for the IPO of HMIL.
Aditya Birla, Anand Rathi, Arihant Capital Markets, Bajaj Capital, Canara Bank Securities, Cholamandalam Securities, ICICI Direct, IDBI Capital, KR Choksey Securities, Marwadi Shares and Finance, SBI Capital Securities, SMIFS have also given a 'subscribe' tag to this most awaited public issue.
Disclaimer: All the views and recommendations stated above are of individual analysts or broking companies and are not of ICFM. It is suggested that investors must consult certified experts before taking any investment decision.
