Mon Oct 21 06:19:53 UTC 2024: **Summary of Hyundai Motor India IPO News Article (Oct 21, 2024)**:

– **IPO Listing Date**: Hyundai Motor India Ltd’s shares will be listed on BSE and NSE on October 22, 2024.
– **Grey Market Premium (GMP)**: The unlisted shares are currently trading at a premium of 4.85%, indicating expected listing gains for investors, a positive shift from a previous last week GMP of -2%.
– **Subscription Details**: The IPO, opened for subscription from October 15-17, was oversubscribed 2.37 times overall, with significant interest from Qualified Institutional Buyers (QIB) at 6.97 times. Retail and non-institutional sections had lower subscription rates of 0.5 times and 0.6 times respectively.
– **IPO Size**: This IPO, valued at Rs 27,870.2 crore, is the largest in India’s history, surpassing LIC’s previous record of Rs 21,000 crore.
– **Price Band**: The price range for the shares was set between Rs 1,865 and Rs 1,960.
– **Market Sentiment**: The fluctuation in GMP reflects changing market sentiments, improving from a low of Rs 5 on the last bidding day.
– **Company Background**: Hyundai began its operations in India in 1996, holding a 15% market share as the second-largest carmaker in the country. Its manufacturing facility in Tamil Nadu has a capacity of 824,000 units, and plans for expansion are in place with the acquisition of a former GM plant in Maharashtra.
– **Sales Performance**: In the fiscal year to March 2024, Hyundai sold 614,721 cars in India and exported 163,155 units.
– **Investment Banks**: Citi, HSBC, JP Morgan, Kotak Mahindra Capital, and Morgan Stanley are advising the IPO transaction, with legal counsel provided by Shardul Amarchand Mangaldas and international counsel from Latham and Watkins.

This IPO represents a significant development for Hyundai Motor India, enhancing its visibility and market capacity while signaling a robust demand for its shares amidst a competitive automotive market.

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