Wed Oct 09 10:02:07 UTC 2024: ## Hyundai Motor India IPO to Open for Subscription Next Week: India’s Biggest IPO
**New Delhi:** Hyundai Motor India Limited’s initial public offering (IPO), set to be India’s largest ever, will open for subscription on Tuesday, October 15th, and close on Thursday, October 17th. The IPO, valued at ₹25,000 crore, will be available for anchor investors on Monday, October 14th.
The price band for the IPO has been fixed at ₹1,865 to ₹1,960 per share, surpassing the previous record held by the ₹21,000 crore IPO of Life Insurance Corporation of India (LIC).
**Grey Market Premium Dips:** Despite the IPO’s potential, the grey market premium (GMP) has been witnessing a continuous decline, falling from a high of ₹500 on September 28th to ₹147 on October 13th, indicating a 70% drop. This could suggest some investor concerns or a shift in sentiment towards the company.
**Allocation and Listing:** The IPO reserves 50% of the shares for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors. Employee reservation comprises 778,400 equity shares, with a ₹186 discount per share for eligible employees.
The finalization of the share allocation is scheduled for Friday, October 18th, with refunds beginning on Monday, October 21st. The shares will be credited to allottees’ demat accounts on the same day. Hyundai Motor India’s shares are expected to list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Tuesday, October 22nd.
**Potential Listing Price:** Based on the upper price band and current grey market premium, the estimated listing price of Hyundai Motor India shares could be ₹2,107 per share, a 7.5% premium over the IPO price. However, the actual listing price will be determined by market forces on the day of listing.
The IPO’s performance will be closely watched by investors, who will be eager to see if Hyundai Motor India can defy the recent trend of weak IPO performance in the Indian market.
First Piper 