Hyundai’s IPO Subscribed 2.34x
QIB portion in Rs27,870-cr India’s largest public offer subscribed 7x
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Mumbai: Hyundai Motor India Ltd’s initial public offering (IPO) has been subscribed 2.34 times till 4 p.m. on its third and last day on Thursday as the qualified institutional buyers (QIB) portion in the IPO was subscribed nearly 7 times.
According to the latest data (provisional), the reserve portion for the QIB was subscribed 6.94 times, non-Institutional Investors (NII) subscribed 0.57 times, and retail investors subscribed 0.48 times.
The IPO was subscribed 42 per cent on its second day and 18 per cent on the first day. The IPO price band was fixed at Rs1,865-Rs 1,960 per share.
This IPO is a pure offer for sale (OFS). It is the first offer from an automaker to list in India in over two decades. Due to being OFS, the entire proceeds will go to the promoter.
Ahead of the public issue, Hyundai Motor India raised Rs8,315 crore from anchor investors on Monday. It allotted 4.24 crore shares at Rs1,960 apiece to 225 anchor investors, according to a company statement.
Hyundai Motor India held a 14.6 per cent market share in the domestic passenger vehicle (PV) market in Q1 FY25, second to Maruti Suzuki which has a 41 per cent share in this category.
