Hyundai Motor India IPO Listing Date and Investment Insights

Hyundai Motor India is set to make a major move with its initial public offering (IPO) listing on October 22, 2024, on both the BSE and NSE stock exchanges. This IPO has generated significant attention, being one of the largest in India’s market history, aiming to raise approximately ₹27,870 crore.

The IPO, which opened for subscription on October 15 and closed on October 17, was structured as a book-built issue with a price band set between ₹1,865 and ₹1,960 per share. A total of 142.19 million shares were made available for sale, with a distribution across different investor categories: 50% reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Notably, the IPO received strong backing from QIBs, with their portion being oversubscribed nearly 7 times, while overall the IPO saw 2.37 times subscription【6】【7】.

Despite early concerns over pricing, the IPO gained momentum by the third day of bidding, though retail participation was somewhat lower compared to institutional investors. Hyundai’s grey market premium (GMP), which reflects the premium buyers are willing to pay over the issue price, remained relatively modest at ₹14, suggesting a possible slight premium at listing【7】.

For investors awaiting allotment, the process was finalized on October 18, and shares are expected to be credited to eligible demat accounts by October 21. Refunds to unsuccessful bidders will also be processed on the same day【8】.

Hyundai Motor India’s listing comes at a time when the automotive industry is undergoing significant transformation, particularly with the shift toward electric vehicles (EVs) and premiumization of product offerings. The company, a subsidiary of Hyundai Motor Company, has a robust presence in India’s passenger vehicle market, holding a 15% share. It manufactures a wide range of vehicles, including popular models like the Creta, Tucson, and the all-electric Ioniq 5【9】.

Analysts have generally been optimistic about the long-term prospects of Hyundai Motor India, highlighting its strong market positioning, growth potential in the EV space, and consistent financial performance. Many brokerages have given a “Subscribe” rating for long-term investors【8】.

Key Details of Hyundai Motor India IPO:

IPO Opening Date: October 15, 2024
IPO Closing Date: October 17, 2024
Listing Date: October 22, 2024
Price Band: ₹1,865 – ₹1,960 per share
Lot Size: Minimum of 7 shares, with a minimum investment of ₹13,720【7】【8】.

Investors are closely watching this IPO due to its sheer size and Hyundai’s status as a market leader in India. The listing is expected to enhance Hyundai’s visibility in the Indian market, providing liquidity for its shares while helping the company tap into future growth areas like electric mobility and premium vehicle segments.