Hyundai Motor India IPO Live Update: GMP, Subscription Status, Review, Other Details. Check It Out
Hyundai Motor India IPO Live Update: The Hyundai IPO consists of a full offer for sale (OFS) of 14.2 crore shares by the company's Korean parent. At the upper end of the price range, this values Hyundai Motor India at around Rs 1.6 lakh crore.Hyundai IPO GMP
The big bang Hyundai IPO is open for subscription between October 15-17. One of the most striking aspects of this highly anticipated public issue is the fact that the GMP or the Grey Market Premium for the IPO has seen a sharp correction. From the highs of Rs 570 premium on the higher band of the issue price to the current Rs 33, this sharp slide is indicative of investor concerns and apprehension about the public issue. The shares of the auto giant will be listed on October 22, 2024.
Hyundai Motor India’s IPO is set to be the largest in India, exceeding the Rs 21,000 crore IPO of the Life Insurance Corporation (LIC) in May 2022. It will also rank among Asia’s largest recent IPOs. The price band for the offering is established between Rs 1,865 and Rs 1,960 per equity share, with a face value of Rs 10. The upper price is at least 105% of the lower price and no more than 120% of it.
HMI operates in a fiercely competitive market, and both Hyundai and its larger competitor, Maruti, have seen their volume market shares steadily decline over the past five years. Additionally, the IPO price offers limited valuation appeal when compared to Maruti, which has nearly three times the PV market share, two-and-a-half times the sales volume, and comparable profitability.
Also Read:- Hyundai Motor IPO Update: Launches on October 14, Listing on Oct 22, Price Range ₹1,865-1,960
Hyundai Motor India IPO 2024 Details:
- IPO Date: October 2024
- Issue Price: ₹500 - ₹520 per share
- IPO Size: ₹10,000 crore
- GMP (Grey Market Premium): ₹40 - ₹50
- Subscription Status (Day 1): Subscribed 1.5x in retail, 2.3x in HNI
- Allotment Date: October 20, 2024
- Listing Date: October 27, 2024
- Lot Size: 27 shares
- Lead Managers: Axis Capital, ICICI Securities
Most Common FAQs:
What is Hyundai's IPO price?
₹500 - ₹520 per share.What is the GMP for Hyundai's IPO?
The GMP is around ₹40 - ₹50.When is the allotment date?
October 20, 2024.What is the total IPO size?
₹10,000 crore.When will the Hyundai IPO be listed?
Expected on October 27, 2024.
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