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Hyundai India IPO Review - GMP, Subscription & Listing

Hyundai Motor India Ltd IPO listing date: Oct 22, 2024 on NSE, BSE. Listed at ₹1934 (-1.3%) vs issue price of ₹1960. Subscribed 2.37x overall (QIB: 6.97x). Price band: ₹1,865-₹1,960, lot size 7 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Oct 21, 2024

Key Dates

IPO Open DateOct 15, 2024

IPO Close DateOct 17, 2024

Allotment DateOct 18, 2024

Refund DateOct 21, 2024

Demat Credit DateOct 21, 2024

Listing DateOct 22, 2024

Issue Details

Price Band₹1,865-₹1,960

Issue Price₹1960

Face Value₹10

Lot Size7 shares

Min Investment₹13,720

Issue Size₹27,870 crore

Listing ExchangeNSE, BSE

RegistrarKFin Technologies

IPO TypeMainboard

stoicHQ Analysis

✓India's second largest car company

✓Strong Creta and Venue demand

⚠100% OFS - Korean parent extracting capital

⚠Listing at discount

⚠0.50x retail subscription

⚠GMP correctly called muted outcome

About Hyundai Motor India Ltd

Hyundai Motor India is India's second largest car manufacturer by volume. The IPO was the largest in Indian history at Rs 27,870 crore, surpassing LIC's 2022 record.

Subscription Breakdown

Overall Subscription2.37x

QIB (Institutional)6.97x

NII (HNI)0.97x

Retail0.50x

Listing Price

₹1934

Listing Gain

-1.3%

Issue Price

₹1960

stoicHQ Analysis

India's largest-ever IPO listed at a slight 1.3% discount. Retail subscription was extremely weak (0.50x), signalling price sensitivity. GMP fell to near-zero in the final days pre-listing, correctly calling the muted outcome. 100% OFS meant no growth capital for India operations.

Automotive2024All 2024 IPOs

IPO Listing Timeline

Previous IPO← Bajaj Housing Finance IPO (listed Sep 16, 2024)Next IPOWaaree Energies IPO (listed Oct 28, 2024) →

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Hyundai Motor India IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Oct 21, 2024₹-26--1.3%

Oct 17, 2024+₹2₹30+0.1%

Oct 15, 2024+₹8₹80+0.4%

Oct 11, 2024+₹18₹140+0.9%

Oct 8, 2024+₹28₹200+1.4%

Hyundai Motor India IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Oct 15)0.48x0.22x0.18x0.64x

Day 2 (Oct 16)0.84x0.72x0.42x0.84x

Day 3 (Oct 17)2.37x6.97x0.97x0.50x

Anchor Investors

Government of Singapore₹2,400 crore

Abu Dhabi Investment Authority₹2,000 crore

SBI Mutual Fund₹1,600 crore

HDFC Mutual Fund₹1,400 crore

Hyundai Motor India Ltd - Financials at IPO

YearRevenuePATNet Margin

FY22₹1,48,000 crore₹15,084 crore10.2%

FY23₹1,57,000 crore₹14,618 crore9.3%

FY24₹1,71,000 crore₹17,624 crore10.3%

Listed Peers - Automotive

Maruti SuzukiAutomotive

Tata MotorsAutomotive / EV

Frequently Asked Questions

When did Hyundai Motor India IPO list?

Hyundai Motor India IPO listed on October 22, 2024 on NSE and BSE at ₹1,934, a slight 1.3% discount to the issue price of ₹1,960. It was India's largest IPO ever at ₹27,870 crore.

What was Hyundai India IPO GMP?

The grey market premium (GMP) for Hyundai India IPO fell from ₹28 to -₹26 in the days before listing, correctly predicting the listing discount. Retail subscription was extremely weak at 0.50x.

What was Hyundai India IPO subscription?

Hyundai Motor India IPO was subscribed 2.37x overall. QIB was 6.97x, NII (HNI) was 0.97x (under-subscribed), and retail was just 0.50x.

What is the Hyundai India IPO price band?

The Hyundai Motor India IPO price band was ₹1,865-₹1,960 per share. Lot size was 7 shares. Minimum investment was ₹13,720. Issue size was ₹27,870 crore - India's largest IPO ever.

What is the Hyundai India IPO allotment date?

The allotment date for Hyundai Motor India IPO was October 18, 2024. Listing was on October 22, 2024.