Hyundai IPO: Shares likely to be allotted today after 2.37x subscription; here's how to check status online

Hyundai says in documents posted Thursday by U.S. safety regulators that a pressure relief device can break and cause a hydrogen leak

Hyundai Motor India's initial public offering (IPO), the largest in India's history, saw a strong finish, with the issue being subscribed 2.37 times on the final day. The public issue worth Rs 27,870 crore attracted bids for 23.63 crore shares against 9.98 crore shares on offer, primarily driven by institutional investors after a sluggish start.

The subscription window, which closed on Thursday, witnessed significant interest on the final day, with bids pouring in from qualified institutional buyers (QIBs). Earlier, the demand had remained subdued, impacted by market volatility and a weakened outlook for the auto sector. Thursday's trading session saw heavy selloffs across the market, especially in auto stocks, dampening sentiment.

Check Hyundai Motor India Ltd Full Subscription Details

Hyundai India IPO GMP Today Price

Investors keenly followed the grey market premium (GMP) during the three-day bidding period. The GMP, often used as an indicator of the potential listing performance, showed a sharp decline of nearly 80 percent since platforms started tracking it, hinting at a muted listing. However, GMP trends are not reflective of actual market performance, and the official listing price remains to be seen.

On the day of allotment today, the shares are commanding a flat GMP to share price.

Hyundai India IPO allotment date today

Meanwhile, the investors who subscribed to the Hyundai Motor India IPO can expect the allotment of shares to be completed today. The shares are set to list on the BSE and NSE on October 22, Tuesday. For those who subscribed to the issue, the allotment status can be checked through the official website of the IPO’s registrar, KFin Technologies or the BSE website.

Hyundai IPO Allotment Status: Direct link to check status online on KFin Tech

Step 1: Open the direct link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).

Step 2: Select the company from the dropdown menu

Step 3: Investors can check the allotment status by filling in details like PAN, Application number or DP client ID.

Step 4: Press the Submit button

Step 5: The allotment status will be shown in the window.

Hyundai IPO Allotment Status: How to check Online on BSE

Step 1: Open the website of Bombay Stock Exchange (BSE).

Step 2: Click on 'Investors' option.

Step 3: On the 'Investor Services' dropdown, click on 'Status of Issue Application'.

Step 4: Click on 'Application Status Check'.

Step 5: Select Equity in the issue type.

Step 6: Fill in the required details including the 'Issue Name'.

Step 7: Enter PAN number and click on Search to view the status

This was is the first initial share sale by an automaker in over two decades, following Japanese carmaker Maruti Suzuki's listing in 2003. Hyundai Motor India Ltd (HMIL) on Monday raised Rs 8,315 crore from anchor investors.

The initial public offer (IPO) is entirely an offer for sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company (HMC), with no fresh issue component.

Since the public issue is completely an OFS, Hyundai Motor India Ltd, the second largest carmaker in India after Maruti Suzuki, will not receive any proceeds from the IPO.

HMIL commenced operations in India in 1996 and currently, sells 13 models across segments.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.