Shares of Korean carmaker Hyundai Motor India are listed at ₹1931, 1.5% below the issue price on the Bombay Stock Exchange (BSE). The stock was listed at ₹1934 on the National Stock Exchange (NSE), which was 1.3% below the issue price. The issue price of this initial public offering was ₹1960.
The IPO was open for bidding from October 15 to October 17. The IPO was subscribed a total of 2.37 times in three trading days. It was subscribed 0.50 times in retail category, 6.97 times in qualified institutional buyers (QIB) and 0.60 times in non-institutional investors (NII) category.
Hyundai Motor India's issue of ₹ 27,870.16 crore This issue of Hyundai Motor India totals ₹ 27,870.16 crore. For this, existing investors of the company sold 142,194,700 shares worth ₹ 27,870.16 crore through Offer for Sale or OFS. Hyundai has not issued any new shares.
This is the largest IPO in the country. Earlier, the record for the largest IPO was held by LIC, which came up with an issue of ₹20,557 crore.
Retail investors can bid for a maximum of 98 shares E Motor India Limited fixed the issue price band at ₹1865-₹1960. Retail investors can bid for a minimum of one lot i.e. 7 shares. If you had applied for 1 lot as per the IPO's upper price band of ₹1960, you would have had to invest ₹13,720.
At the same time, retail investors can apply for a maximum of 13 lots i.e. 98 shares. For this, investors have to invest ₹192,080 as per the upper price band.
Hyundai Motor India became the fourth largest listed auto company Hyundai Motor has become the fourth largest auto company to be listed on the Indian stock market. It is the fourth largest automobile company after Maruti-Suzuki, Tata Motors, Mahindra & Mahindra. Hyundai Motor India is the second largest car company in the country after Maruti.
Automaker's first IPO in India in 20 years The IPO is the first initial public offering of an automaker company in India in 20 years. Earlier Maruti Suzuki's IPO was in 2003. Hyundai is the second largest car manufacturer in the country after Maruti Suzuki India.
What is an IPO? When a company issues its shares to the general public for the first time, it is called an initial public offering or IPO. A company needs money to grow its business. In such a situation, the company raises money by selling some shares to the public or by issuing new shares instead of borrowing from the market. For this the company brings IPO.
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
