Hyundai Motor India IPO Allotment: A Comprehensive Overview
The initial public offering (IPO) of Hyundai Motor India Ltd has made headlines as the largest IPO in India to date, valued at a staggering ₹27,870.16 crore. Despite a lukewarm response from retail investors, the IPO managed to secure its footing on the final day of bidding, largely due to the robust participation from qualified institutional buyers (QIBs). As the bidding process concluded on October 17, investors are now keenly awaiting the Hyundai Motor India IPO allotment.
Key Dates and Allotment Process
The Hyundai IPO was open for subscription from October 15 to October 17, 2023. The allotment date is anticipated to be today, October 18, with shares expected to be credited to the demat accounts of successful applicants on October 21. Unsuccessful bidders will also receive refunds on the same day. This swift turnaround is crucial for investors eager to understand their stake in one of the most significant IPOs in Indian history.
How to Check Hyundai IPO Allotment Status
Investors can easily check their Hyundai IPO allotment status through two primary platforms: the Bombay Stock Exchange (BSE) website and the official portal of the IPO registrar, Kfin Technologies. Here’s a step-by-step guide for both methods:
Checking Allotment Status on BSE
- Visit the BSE website at BSE IPO Status.
- Select ‘Equity’ in the Issue Type.
- Choose ‘Hyundai Motor India Limited’ from the Issue Name dropdown menu.
- Enter either your Application Number or PAN.
- Verify by ticking ‘I am not a robot’ and click on ‘Search’.
Your Hyundai IPO allotment status will be displayed on the screen.
Checking Allotment Status on Kfin Technologies
- Go to the Kfin Technologies website at Kfin IPO Status.
- Select ‘Hyundai Motor India Limited’ in the Select IPO dropdown menu.
- Choose either Application Number, Demat Account, or PAN.
- Enter the required details based on your selection.
- Complete the Captcha code and click on Submit.
Your allotment status will be shown on the screen.
Current Market Sentiment: Grey Market Premium (GMP)
As of today, the grey market premium (GMP) for Hyundai Motor India shares has turned negative, indicating a weak trend in the unlisted market. Currently, the GMP stands at ₹-33, suggesting that shares are trading at a discount to their issue price. This downturn in GMP reflects broader market sentiments, with the estimated listing price of Hyundai shares projected at ₹1,927, which is approximately 1.68% lower than the IPO price of ₹1,960 per share.
Subscription Details and Investor Response
The Hyundai IPO was met with varied responses across different investor categories. Overall, the IPO was subscribed 2.37 times, with bids for 23.63 crore equity shares against the 9.97 crore shares on offer. Retail investors showed a more cautious approach, with their portion subscribed at only 50%. In contrast, non-institutional investors (NIIs) saw a subscription rate of 60%, while the QIB segment was highly enthusiastic, with a subscription rate of 6.97 times. The employee portion also saw a healthy subscription of 1.74 times.
Conclusion
Hyundai Motor India’s IPO marks a significant milestone in the Indian capital markets, showcasing the potential for large-scale public offerings even amid fluctuating investor sentiment. With the allotment process underway and shares set to be listed on the BSE and NSE on October 22, all eyes are on how the market will react to this monumental offering. Investors are advised to stay informed and consider expert opinions before making any investment decisions.
For ongoing updates and detailed insights into the market, investors can refer to platforms like Live Mint, which provide comprehensive coverage of business news, market trends, and breaking updates.