Hyundai Motor India IPO subscribed 2.36 times on Day 3

17 Oct 2024 , 03:54 PM

Hyundai Motors India’s initial public offering (IPO), which opened for bidding on October 15, has now been completely subscribed. This initial public offering (IPO) intends to raise Rs 27,856 crore, making it the highest in Indian history.

As of October 17, 3:50 pm, the Hyundai Motor IPO has been subscribed for 2.36 times. The subscription is divided into three categories: retail portion was subscribed 0.49 times, QIB portion was subscribed 6.97 times, and non-institutional investors’ portion was subscribed 0.60 times.

The Hyundai IPO got off to a sluggish start, struggling to generate momentum throughout the first two days. Despite its magnitude, the IPO drew little early interest, in contrast to other recent public offerings that had overwhelming demand and oversubscriptions. However, by the third day, it had gathered enough popularity to be completely subscribed.

Investors who applied for the Hyundai IPO can verify their allotment status at KFin Technologies Limited, the registrant for the offering. Additionally, the allotment can be viewed on the Bombay Stock Exchange (BSE) website.

The allotment for the Hyundai Motor IPO is expected to be concluded on Friday, October 18, 2024. The company’s shares will be listed on both the BSE and NSE, with a tentative listing date of Tuesday, October 22, 2024.

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