Hyundai Motor India IPO: How to check allotment status online
The share allotment status for Hyundai Motor India's initial public offering (IPO) will be finalized today. The mainboard issue, which is the largest in India's history, was open for subscription from October 15 to October 17. Despite its scale, the IPO received a tepid response from investors across categories with the issue being subscribed only 2.37 times on the final day of bidding.
Hyundai's IPO: A ₹27,870.16-crore book-building issue
The Hyundai Motor India IPO is a ₹27,870.16-crore book-building issue that is entirely an offer-for-sale (OFS) of 14.22 crore shares. The retail portion of the offer was subscribed only 50%, while non-institutional investors (NIIs) picked up 60% of the shares reserved for them. Qualified institutional buyers (QIBs) oversubscribed their quota by nearly seven times, while the employee quota was subscribed 1.74 times.
Hyundai Motor India IPO price band and listing
The price band for the Hyundai Motor India IPO was fixed at ₹1,865-₹1,960 per share. Retail investors had to bid for at least a single lot size of seven shares. The company has planned its listing on October 22 on both the BSE and NSE. Once the IPO allotment is done, shares will be credited into the demat accounts of eligible investors on October 21. For unsuccessful applications, the refund process will also be initiated on the same date.
How to check share allotment?
Investors who applied for shares in the IPO can check their allotment status through two primary methods: Visit the Bombay Stock Exchange (BSE) website and navigate to the "Status of Issue Application" section. Select "Equity" as the issue type and choose "Hyundai Motor India Limited" from the dropdown menu. Enter your application number and PAN card details to view your allotment status. Investors can also visit the Kfin Technologies website and check their allotment statuts.
Hyundai Motor India shares show weak trend in unlisted market
Hyundai Motor India shares are currently witnessing a weak trend in the unlisted market as the gray market premium (GMP) has dried up. The Hyundai IPO GMP today is ₹-33, meaning shares are trading at a discount to their issue price in the gray market. Based on this and the issue price, the estimated listing price of Hyundai Motor India shares is ₹1,927 apiece. This means, investors will likely lose money at the time of listing.
