Shares of Korean car manufacturer Hyundai Motor India listed at ₹1931, 1.5% below the issue price on the Bombay Stock Exchange (BSE). The share was listed at ₹1934 on the National Stock Exchange (NSE), 1.3% below the issue price. The issue price of this initial public offering was ₹1960.
This 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 the retail category, 6.97 times in the Qualified Institutional Buyers (QIB) and 0.60 times in the Non-Institutional Investors (NII) category.
Hyundai Motor India's issue is worth ₹27,870.16 crore
This issue total of Hyundai Motor India is ₹ 27,870.16 crore. For this, the existing investors of the company sold 142,194,700 shares worth ₹ 27,870.16 crore through Offer for Sale i.e. OFS. Hyundai did not issue any new shares.
This is the largest IPO in the country. Earlier, the record of the largest IPO was in the name of LIC, which had brought an issue of ₹ 20,557 crore.
Retail investors could bid for maximum 98 shares
Hyundai Motor India Limited had fixed the price band of this issue at ₹1865-₹1960. Retail investors could bid for a minimum of one lot i.e. 7 shares. If you had applied for 1 lot as per the upper price band of IPO of ₹1960, you would have had to invest ₹13,720.
At the same time, retail investors could apply for a maximum of 13 lots i.e. 98 shares. For this, investors would have to invest ₹ 192,080 as per the upper price band.
Hyundai Motor India becomes the fourth largest listed auto company
Hyundai Motor has become the fourth largest auto company to be listed in the India 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.
First IPO of an automaker company in India in 20 years
This IPO is the first initial public offering of an automaker company in India in 20 years. Earlier, Maruti Suzuki's IPO came in 2003. Hyundai is the second largest carmaker in the country after Maruti Suzuki India.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.
Graphics Source: VaskarAssets
