Hyundai Motor India IPO fully subscribed on the third and last day of bidding on Thursday, October 17, 2024. According to the NSE data, The IPO got bids for over 10 crore shares against 9.98 crore shares on offer as of now. This translates into 1.01 times subscription. Qualified Institutional Buyers (QIBs) gained 2.48 times of the subscription, whereas the portion meant for Retail Individual Investors (RIIs) fetched 43% subscription. Non-institutional investors booked 36% subscription. Notably, Hyundai Motor India on Monday raised Rs 8,315 crore from anchor investors.

Hyundai Motor India Limited (HMIL) is a wholly-owned subsidiary of Hyundai Motor Company (HMC). The company offers mobility solutions. HMIL operates 1,366 sales points and 1,550 service points across India. The company has a car portfolio of 13 models, including the much popular, Creta, i20, Venue among others.

Hyundai Motor India IPO Details

Hyundai Motor India IPO is India’s largest-ever offer. The company aims to raise Rs 27,870 crore (around $3.3 billion) through this IPO. The company has a dominant presence in India. The price band for the Hyundai Motor India IPO has been set at Rs 1,865 to Rs 1,960. The minimum investment is pegged at Rs 13,055 for a lot of 7 shares. 

The company’s IPO is an offer for sale (OFS) deal of 14.2 crore shares. Parent Hyundai Motor Corporation (HMC) will offload its stake in the company for the offering. This will bring HMC’s stake in the company from 100% to 82.5%. The company shall further reduce its stake to 75% in the next few years to comply with regulatory rules.