Hyundai Motor IPO India Subscription Status Highlights: The big bang Hyundai IPO is open for subscription between October 15-17. Hyundai Motor IPO’s latest Grey Market Premium (GMP) is Rs 14, as of Oct 16th, 2024, 08:27 PM. With a price band set at Rs 1960, the estimated listing price is Rs 1974 (cap price + today’s GMP), indicating an expected gain of 0.71% per share. The current GMP of Rs 14 reflects downward signals. The GMP has ranged from a low of Rs 0 to a high of Rs 570.
Hyundai Motor India’s IPO is poised to become the largest in India, surpassing the Rs 21,000 crore Life Insurance Corporation (LIC) IPO from May 2022. It is also one of Asia’s largest recent IPOs. The price band for the offering has been set between Rs 1,865 and Rs 1,960 per equity share, with a face value of Rs 10. The cap price is at least 105% of the floor price and less than or equal to 120% of the floor price.
Hyundai Motor India IPO Highlights: Check Hyundai IPO Price, GMP, Allotment Status, Reviews
Hyundai Motor India raised a total of Rs 8,315 crore from 225 anchor investors on October 14 at a price of Rs 1,960 per equity share. The company allotted 42.42 million equity shares to the anchor investors.
Hyundai Motor India IPO Live Updates: Hyundai Motor India IPO vs Listed Peers PE
Hyundai Motor India’s IPO Red Herring Prospectus (RHP) lists its peers in the market, including Maruti Suzuki India, which has a price-to-earnings (P/E) ratio of 17.93 as of October 4, 2024. Other competitors include Tata Motors Ltd with a P/E of 11.36, and Mahindra & Mahindra (M&M) boasting a P/E of 29.96.
The promoter-selling shareholder will retain all proceeds from the offering after deducting associated costs and applicable taxes, which will be the responsibility of the promoter. Notably, Hyundai Motor India will not receive any proceeds from this offer.
Hyundai’s IPO marks the first public offering by an Indian automaker in two decades, following Maruti Suzuki’s debut in 2003. This launch coincides with Indian stock markets reaching record highs, reflecting a growing trend of new companies entering the public arena.
In September 2024, Hyundai Motor India reported sales of 64,201 units, marking a 10% decline year-on-year. Year-to-date, the company has sold 577,000 units, showing no significant change compared to the previous year. Hyundai remains the second-largest Original Equipment Manufacturer (OEM) and exporter of passenger vehicles in India, with a current domestic market share of 14.6%.
Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities & Capital Markets, J.P. Morgan India, and Morgan Stanley India Company are the lead book runners of the issue. Kfin Technologies has been chosen to work as the registrar.
India‘s largest IPO will open for bidding on October 15. Hyundai Motor India will close its IPO on October 17. The company aims to raise a sum of Rs 27,870.16 crores. The issue is entirely an offer for sale of 14.22 crore shares, which means the raised proceeds will go to the pockets of promoters and other selling shareholders. The promoters are based in South Korea, meaning that money will be taken from India to South Korea.
Hyundai Motor India Limited has set the price band for its upcoming IPO at Rs 1,865 to Rs 1,960 per equity share, with a face value of Rs 10 each. The cap price represents 196 times the face value, while the floor price stands at 186.5 times the face value.
The cap price is also at least 105% of the floor price but does not exceed 120% of it, offering a range for investors as the company prepares for its much-anticipated public debut.
The grey market premium (GMP) for Hyundai India shares continues to drop ahead of the IPO, now standing at around Rs 45. This represents a modest 3% premium over the issue price. The GMP has fallen by over 89% from its earlier high of Rs 570.
The Hyundai Motor India IPO is an entirely offer-for-sale of 14.2 crore equity shares by its parent company, Hyundai Motor Company. The auto giant aims to raise Rs 27,870.2 crore through its maiden public issue at the upper price band. Additionally, the company has reserved 7,78,400 equity shares for its employees, who will receive these shares at a discount of Rs 186 per share to the final issue price.
The eagerly awaited mainboard initial public offering (IPO) of Hyundai Motor India is scheduled to open for subscription on Tuesday, October 15, 2024, in India’s primary market. Shares of the auto giant will be listed on D-Street on October 22, 2024, and the public issue will be open for all investor groups until Thursday, October 17, 2024.