Hyundai Motor IPO’s off to a slow start

Hyundai Motor IPO’s off to a slow start

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Mumbai: Hyundai Motor India‘s ₹27,870 crore initial public offering (IPO) – India’s largest-ever – was subscribed 0.18 times on Tuesday, the opening day of the public issue.

The non-institutional investor (NII) portion, primarily high-net-worth individuals, was subscribed 0.13 times, while the retail investor portion saw a subscription of 0.26 times. The portion reserved for the company’s employees, offered at a discount of ₹186 per share, was subscribed 0.8 times (80%).

Meanwhile, the qualified institutional buyer (QIB) portion was subscribed 0.05 times, though institutions typically place bids on the final day of the subscription period.

Agencies

The IPO, priced between ₹1,865 and ₹1,960 per share, will remain open for subscription until Thursday.

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NIIs are offered 50% and 15% of the issue size, respectively.

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Hyundai Motor India, the country’s second-largest passenger car manufacturer after Maruti Suzuki, raised ₹8,315 crore (roughly 30% of the IPO size) on Monday from 225 anchor investors, led by funds owned by the Singapore government, among others.



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