Hyundai Motor India IPO: The 27,870 crore IPO of Hyundai has been opened for bidding since October 15. This South Korean company IPO is the biggest ever in Indian market. However, on the first day of the bidding, the IPO received a tepid response from investors. If you are planning to apply for Hyundai IPO shares, here's how you can do it through Zerodha, a leading online brokerage platform in the country.
Hyundai IPO Details:
On October 15, Tuesday, the IPO received cumulative bids of 1,77,89,457 equity shares, against the offered size of 9,97,69,810 equity shares - registering a subscription of only 18%. The demand has been slow from qualified institutional buyers, while the portion for non-institutional and retail individual investors subscribed 13% and 26% of their reserved size.
Bidding in Hyundai IPO will continue till October 17, 2024. The price band for the IPO is fixed at Rs 1,865 to Rs 1,960 per equity share, on the face value of Rs 10 each. Bids can be made for a minimum 7 equity shares and in multiples of 7 equity shares thereafter.
Of the total size, 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs"), while 15% of the offer will be reserved for Non-Institutional Investors (NIIs), and remaining 35% will be allocated to Retail Individual Investors (RII).
Tentatively, after the IPO, the basis of allotment is expected to take place on October 18, while refunds and credit of shares are expected on October 21. Hyundai IPO is expected to list on October 22, 2024.
How To Apply For Hyundai IPO Shares At Zerodha?
As per the Zerodha website, following are the steps to follow:
Step 1 - Login to your Zerodha account.
Step 2 - Tap on Bids.
Step 3 - Tap on IPO.
Step 4 - Select the Hyundai IPO from the ongoing list of IPOs and tap on Apply.
Step 5 - Tap on Apply again and enter the UPI ID.
Step 6 - Enter or edit the Quantity and the Price.
Step 7 - Tap on the undertaking tick box and swipe the Submit button.
Step 8 - Accept the mandate on the UPI app.
Hyundai Motor India GMP Today:
As per Investor Grain data, Hyundai Motor IPO last GMP is ₹63, last updated Oct 16th 2024 06:03 AM. With the price band of 1960.00, Hyundai Motor IPO's estimated listing price is ₹2023 (cap price + today's GMP).The expected percentage gain/loss per share is 3.21%.
Hyundai Motor India Limited (HMIL), is a wholly owned subsidiary of Hyundai Motor Company (HMC). In line with HMC's global brand vision of 'Progress for Humanity' we adopt sustainable and green manufacturing operations, offering mobility solutions with industry leading technology.
HMIL operates with a network of 1,366 sales points and 1,550 service points across India. Our model line-up consists of car models across different customer segments, including Grand i10 NIOS, i20, i20 N Line, AURA, EXTER, VENUE, VENUE N Line, VERNA, CRETA, CRETA N Line, ALCAZAR, TUCSON and the all-electric SUV IONIQ 5. HMIL's manufacturing plant near Chennai, is optimised to manufacture our full range of vehicle models. HMIL also forms a critical part of HMC's global export hub with exports spanning across Africa, the Middle East, and other countries including Bangladesh, Nepal, Bhutan and Sri Lanka.
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