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Hyundai Motor IPO Day 2: Subscription update, issue price, lot size, listing date, other key things to know

by Sarkari Info
2024-10-17 09:09:24
1 minute read

Hyundai Motor IPO Subscription Update : Hyundai Motor India's much-anticipated initial public offer (IPO), estimated to be worth Rs 27,870 crore, was subscribed 42 per cent on Wednesday, October 16, the second day of the bidding process. Under the IPO, Hyundai Motor India shares are available for bidding in a price band of Rs 1,865-1,960 apiece in multiples of seven shares, which translates to Rs 13,055-13,720 per lot. As the Hyundai Motor IPO enters the second day of its three-day subscription window, here is everything market participants need to know about the share sale. Here are key things to know about the mega Hyundai Motor India IPO: On Wednesday, the IPO received total bids for 4.2 crore shares as against the almost 10 crore shares on offer across various categories, translating to an overall subscription of about 42 per cent, according to provisional exchange data. Day 1 Business Managing Editor Anil Singhvi suggests avoiding the IPO and considering buying only after the listing of shares. Only high risk-taking investors can apply for the Hyundai Motor IPO from a "very long term" perspective spanning a minimum 2-3 years, according to the market wizard. Also, such investors should be "ready to see lower prices at listing", said Singhvi. The issue is the largest IPO of all time in India. The IPO of Hyundai Motor, the Indian arm of South Korean auto manufacturer Hyundai, comes in a bumper year for the primary market on Dalal Street characterised by more than 250 issues with more than Rs 75,000 crore raised, much higher than in 2023. It marks Hyundai's first listing outside of South Korea. Ahead of the IPO, Hyundai Motor India raised a sum of Rs 8,315 crore from anchor investors including New World Fund, Government of Singapore, Fidelity Funds and BlackRock Global Funds and SBI Life Insurance Company. Read more on Hyundai Motor anchor investors Catch all the latest stock market updates here. For all other news stories in buzzing categories like technology, automobiles and personal finance, and much more, visit . Get Latest Business News , Stock Market Updates and Videos ; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Business Twitter and Facebook . Subscribe on YouTube .