Hyundai Motor India, one of the country’s leading automotive companies, has recently closed its highly anticipated Initial Public Offering (IPO). Despite a lukewarm response from retail investors, the IPO found strong support from Qualified Institutional Buyers (QIBs), helping it get fully subscribed by the closing day. With the bidding process now concluded, all eyes are on the Hyundai IPO allotment date, expected to be finalised today, October 18.
Investors who participated in the ₹27,870.16 crore IPO are eager to know if they will be allotted shares. After the finalisation of the allotment, shares will be credited to the demat accounts of successful applicants by October 21. Refunds for those who didn’t receive an allotment will also be initiated on the same day.
How to Know Hyundai IPO Allotment Status
Once the allotment is finalised, investors can check their allotment status using two primary methods: through the BSE website or via the IPO registrar, Kfin Technologies.
Check Hyundai IPO Allotment Status via BSE
To check the Hyundai IPO allotment status on the Bombay Stock Exchange (BSE) website, follow these simple steps:
- Visit the BSE allotment page: https://www.bseindia.com/investors/appli_check.aspx.
- Under 'Issue Type,' select Equity.
- Choose Hyundai Motor India Limited in the dropdown under 'Issue Name.'
- Provide your Application Number or PAN.
- Confirm you’re not a robot and click Search.
You will be seen your allotment status on the screen.
Check Hyundai IPO Allotment Status via Kfin Technologies
Investors can also check their allotment status via the IPO registrar, Kfin Technologies. Here's how:
- Visit the Kfin Technologies website: https://kosmic.kfintech.com/ipostatus/.
- Select Hyundai Motor India Limited from the dropdown menu.
- Enter either your Application Number, Demat Account Number, or PAN, depending on your choice.
- Complete the captcha and click Submit.
Your Hyundai IPO allotment status will appear on the screen once available.
Hyundai IPO Grey Market Premium (GMP) Trends
Despite the scale and significance of the Hyundai IPO, the grey market sentiment has been subdued. According to market observers, the Hyundai Motor India shares are trading at a discount in the grey market, with a current GMP of ₹-33. This indicates that Hyundai shares are trading below their issue price, suggesting a potential listing price around ₹1,927 per share, slightly lower than the issue price of ₹1,960.
This negative GMP hints at muted short-term expectations for Hyundai shares. However, market conditions can be unpredictable, and the actual listing price could still surprise investors, especially considering the IPO’s strong QIB subscription.
Hyundai IPO Subscription Details
The Hyundai IPO, which opened for subscription from October 15 to October 17, 2024, saw overall subscriptions of 2.37 times. While retail investor participation was somewhat underwhelming, with only 50% of the retail portion being subscribed, the institutional side of the market showed significant interest. The Qualified Institutional Buyers (QIBs) portion was oversubscribed by 6.97 times, and Non-Institutional Investors (NIIs) subscribed to 60% of their reserved shares. The employee portion also saw a decent subscription of 1.74 times.
Key Hyundai IPO Details at a Glance:
- IPO Value: ₹27,870.16 crore (biggest IPO in India to date)
- Offer Type: Offer for Sale of 14.22 crore equity shares
- Price Band: ₹1,865 - ₹1,960 per share
- Subscription Period: October 15 - October 17, 2024
- Overall Subscription: 2.37 times
- Listing Date: Hyundai Motor India shares are expected to list on the BSE and NSE on October 22, 2024.
Key Lead Managers and Registrar
Hyundai’s IPO has been managed by some of the biggest names in investment banking, including Kotak Mahindra Capital, Citigroup Global Markets India, HSBC Securities & Capital Markets, J.P. Morgan India, and Morgan Stanley India. Kfin Technologies has been appointed as the official registrar for the Hyundai IPO, overseeing the allotment process and any refunds for unsuccessful applicants.
Market Outlook: Should Investors be Concerned?
Despite the negative GMP, many market analysts remain cautiously optimistic about Hyundai’s long-term prospects. The company is a household name in India’s automotive market and boasts a strong operational history. The tepid grey market response is seen as a reflection of broader market conditions rather than a fundamental issue with Hyundai’s business.
That said, for retail investors, the muted retail subscription and negative grey market trends could suggest a volatile listing. Investors are advised to consider their long-term goals before making any decisions based solely on listing gains.
Final Thoughts
The Hyundai Motor India IPO has attracted widespread attention, not just due to its sheer size, but also because of the company’s standing in the Indian automobile market. With the IPO allotment date likely to be finalised today, investors will soon know where they stand. While grey market trends point to a discounted listing, it is essential to keep in mind that market dynamics can shift, especially with a brand as prominent as Hyundai.
For those who missed out on the IPO, Hyundai’s performance in the public markets over the next few months will be an exciting space to watch. For now, the focus remains on the allotment and eventual listing on October 22, 2024.
Disclaimer
The content above is purely for informational purposes and does not constitute financial advice. Take advise with a certified financial advisors before any investment.