Hyundai Motor India IPO subscribed 2.37 times: Qualified Institutional Buyers placed highest bid | Hyundai Motor India’s IPO total subscribed 2.37 times: Qualified institutional buyers made the highest bid, shares will be listed on October 22.

The IPO of Korean car manufacturer Hyundai Motor India was subscribed a total of 2.37 times on the last day. The issue was subscribed 0.50 times in the retail category, 6.97 times in the Qualified Institutional Buyers (QIB) category and 1.11 times in the Non-Institutional Investors (NII) category.

On October 22, the company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). This initial public offer was opened on 15 October.

Hyundai Motor India’s issue is worth ₹27,870.16 crore

This issue total of Hyundai Motor India is ₹ 27,870.16 crore. For this, the existing investors of the company are selling 142,194,700 shares worth ₹ 27,870.16 crore through Offer for Sale i.e. OFS. Hyundai is not issuing any new shares.

This is the largest IPO in the country. Earlier, the record of the largest IPO was in the name of LIC, which had brought an issue of ₹ 20,557 crore.

Retail investors could bid for maximum 98 shares

Hyundai Motor India Limited had fixed the price band of this issue at ₹1865-₹1960. Retail investors could bid for a minimum of one lot i.e. 7 shares. If you had applied for 1 lot as per the upper price band of IPO of ₹1960, you would have had to invest ₹13,720.

At the same time, retail investors could apply for a maximum of 13 lots i.e. 98 shares. For this, investors would have to invest ₹ 192,080 as per the upper price band.

Hyundai Motor India will be the fourth largest listed auto company

Hyundai Motor will be the fourth largest company to be listed in the India stock market. This will be the fourth largest automobile company after Maruti-Suzuki, Tata Motors, Mahindra & Mahindra. Hyundai Motor India is the second largest car company in the country after Maruti.

First IPO of an automaker company in India in 20 years

This IPO is the first initial public offering of an automaker company in India in 20 years. Earlier, Maruti Suzuki’s IPO came in 2003. Hyundai is the second largest carmaker in the country after Maruti Suzuki India.