Mon Oct 21 05:59:25 UTC 2024: Here are the important points from the news article about Hyundai Motor India’s IPO:

1. **IPO Subscription Details**: Hyundai Motor India’s IPO opened for subscription on October 15, 2024, and closed on October 17, 2024, attracting significant interest with a total subscription of 2.37 times.

2. **Share Allocation Timeline**: Share allocation is expected to be completed by the evening of October 18, 2024. Investors will receive notifications about fund debits or potential cancellations of their IPO applications by October 21, 2024.

3. **Financial Highlights**: The IPO included an offer of approximately 9.98 crore shares worth ₹27,870 crore, resulting in bids for 23.63 crore shares. This is now the largest IPO in the Indian stock market, surpassing the previous record held by the Life Insurance Corporation (LIC) of India.

4. **Investment Breakdown**: Qualified Institutional Buyers (QIB) showed strong interest with 6.97 times subscription, whereas non-institutional investors subscribed at 60%, and the retail investor segment received 50% subscription.

5. **Anchor Investor Fundraising**: Prior to the IPO opening, Hyundai raised ₹8,315 crore from anchor investors.

6. **Price Range**: The price band for the IPO was set between ₹1,865 and ₹1,960 per share, based entirely on the sale of existing shares by parent company Hyundai Motor Company (HMC), with no new equity shares being issued.

7. **Market Impact**: This IPO is significant as it marks the first listing of an automobile manufacturer in India since Maruti Suzuki’s IPO in 2003, and it aims to enhance Hyundai’s brand image and access to the public equity market.

8. **Future Valuation**: Post-IPO, the market capitalization of Hyundai Motor India is expected to be around ₹1.6 lakh crore (approximately $19 billion).

Overall, the article outlines the successful IPO process of Hyundai Motor India and its implications for the company and the Indian stock market.

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