Hyundai Motor India IPO allotment

Hyundai Motor India IPO Allotment: How to Check Status Online on KFin Technologies, NSE

Key Details of Hyundai Motor India IPO:

• IPO Subscription Period: October 15 – October 17
• Allotment Finalization Date: October 18
• Issue Size: ₹27,870 crore
• Subscription: 2.37 times the offered shares
• Price Band: ₹1,865 – ₹1,960 per share
• Offer Type: Entirely an Offer for Sale (OFS) with no fresh issue, involving the sale of 14.21 crore equity shares by Hyundai Motor Company (HMC).

Subscription Data:

• Total Bids: 23.63 crore shares against an offer of 9.97 crore shares.
• Qualified Institutional Buyers (QIBs): Subscribed 6.97 times their reserved quota.
• Non-Institutional Investors (NIIs): Subscribed 60%.
• Retail Investors: Subscribed 50%.

Allotment Status:

The allotment status for Hyundai Motor India’s IPO will be finalized on October 18, 2024. Investors can check their allotment status online via:

1. KFin Technologies’ website (the registrar).
2. NSE and BSE portals.

How to Check Hyundai Motor India IPO Allotment on KFin Technologies:

1. Visit the KFin Technologies website.
2. Select “IPO Allotment” from the menu.
3. Enter details such as PAN number, application number, or Demat account number.
4. Click “Submit” to view your IPO allotment status.

Important Dates:

• Allotment Finalization: October 18
• Shares Credit to Demat Account: October 21
• Refund for Unsuccessful Bidders: October 21
• Listing Date on BSE/NSE: October 22

Advantages of Hyundai Motor India IPO:

1. Reputed Brand: Hyundai is one of the largest automobile manufacturers globally, offering strong brand recognition and trust among investors.
2. Institutional Demand: High demand from institutional investors (QIBs) with 6.97x subscription indicates strong investor confidence.
3. Price Band: The price band of ₹1,865 to ₹1,960 per share reflects the company’s robust valuation and positioning in the Indian market.
4. Anchor Investment: Hyundai raised ₹8,315 crore from anchor investors, showcasing the strong interest in the IPO even before the public bidding.
5. No Fresh Equity: Since this IPO is an offer-for-sale (OFS), the company does not dilute existing shareholders’ value.

Disadvantages of Hyundai Motor India IPO:

1. Low Retail Participation: Retail investors subscribed only 50% of the portion reserved for them, reflecting a lack of enthusiasm among individual investors.
2. No Fresh Capital: Since it’s an offer-for-sale, the funds raised go to the promoters (Hyundai Motor Company) rather than the company itself, meaning there is no direct benefit for Hyundai Motor India’s business operations.
3. Valuation Concerns: Some investors might feel that the price band of ₹1,865-₹1,960 per share is on the higher side, reducing the potential for immediate post-listing gains.
4. Tepid Demand: With non-institutional investor (NII) subscription at 60%, the demand among smaller institutions and high-net-worth individuals was not as strong as expected.

Conclusion:

The Hyundai Motor India IPO garnered considerable interest, particularly from institutional buyers, who led the charge with high subscription rates. Despite moderate retail participation, the IPO is set to be a major event in the Indian stock market. Investors can now check their allotment status on October 18, and successful bidders will receive their shares by October 21. The IPO will be listed on the NSE and BSE on October 22, where market performance will reflect the true investor sentiment.

FAQs:

1. When will the Hyundai Motor India IPO allotment be finalized? The allotment will be finalized on October 18, 2024.
2. How can I check the allotment status for Hyundai Motor India IPO? You can check the allotment status on the KFin Technologies website, NSE, or BSE by entering your PAN number, application number, or Demat account details.
3. What is the price band for the Hyundai Motor India IPO? The price band is set between ₹1,865 and ₹1,960 per share.
4. When will the shares be credited to my Demat account? Shares will be credited to successful bidders’ Demat accounts on October 21, 2024.
5. What if I don’t receive the shares after allotment? If you don’t receive shares, your refund will be initiated on October 21, 2024.
6. When is Hyundai Motor India scheduled to be listed on stock exchanges? The listing date on the NSE and BSE is October 22, 2024.

Hyundai Motor India IPO allotment

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