• Hyundai Motor India's IPO opened on October 15 and was subscribed 18% on the first day, with retail investors subscribing to 26%.
  • The IPO consists entirely of an offer for sale (OFS) of 14.2 crore shares, raising ₹27,870.16 crore for Hyundai Motor Global.

Hyundai Motor India’s initial public offering (IPO), which opened on October 15, saw a subscription of 18% or 0.18 times on the first day of bidding. The automaker’s IPO received bids for over 1.77 crore shares against the 9,97,69,810 shares available for subscription. The IPO will remain open for bidding until Thursday.

Retail investors led the activity, subscribing to 26% of the issue. Non-institutional investors (NII) booked 13%, while qualified institutional buyers (QIB) secured 5% of their allocated 28,283,260 shares with 1,389,647 bids. The IPO has allocated 50% of its shares to QIBs, 35% to retail investors, and 15% to NIIs. Additionally, the employee reservation segment includes up to 778,400 shares, with eligible employees receiving a discount of ₹186 per equity share.

The grey market premium (GMP) for Hyundai's IPO stands at ₹58, according to investorgain.com. This indicates an estimated listing price of ₹2018, a 2.96% increase over the IPO price of ₹1960. The GMP reflects investors’ willingness to pay above the issue price, showing early interest and optimism around the listing.

Hyundai Motor India aims to raise ₹27,870.16 crore through the IPO, which consists entirely of an offer for sale (OFS) of 14.2 crore shares by its parent, Hyundai Motor Global. The company plans to use the proceeds for research and development and to launch new products. The IPO price range has been set between ₹1865 and ₹1960 per share, with investors able to bid in lots of seven shares each.

Kotak Mahindra Capital, Citigroup Global Markets, HSBC Securities, J.P. Morgan India, and Morgan Stanley India are the lead managers for the IPO, while KFin Technologies is the registrar.

Edited by Harshajit Sarmah