Hyundai Motor India’s initial public offering (IPO) has emerged as a historical milestone in the Indian stock market, being touted as the largest IPO to date. The much-anticipated Hyundai IPO allotment date is today, October 18, 2024. Following a successful subscription period that ended on October 17, this offering valued at ₹27,870 crore garnered overwhelming interest, being oversubscribed by 2.37 times with bids for 23.63 crore shares against 9.98 crore available. This significantly underlines the bullish sentiment towards Hyundai in the Indian automotive sector.
How to Check Your Allotment Status
For investors eager to verify their allotment status in the Hyundai IPO, here are the detailed steps to take:
- For KFin Technologies:
- Visit the KFin IPO allotment page.
- Select “Hyundai Motor” from the dropdown menu.
- Enter your PAN number, application number, or Demat account ID.
- Click “Submit” to view your allotment status.
- For BSE:
- Navigate to the BSE IPO allotment page.
- Choose “Hyundai Motor” from the dropdown.
- Fill in the required details and click “Search”.
By following these simple steps, investors can quickly confirm their share allotment from the Hyundai IPO.
Market Sentiment and Grey Market Premium
The overall market sentiment regarding the Hyundai IPO has shown signs of volatility, particularly influenced by fluctuations in the automotive sector. The grey market premium (GMP) has notably dropped by about 80% since its inception, hinting at a potentially subdued listing performance. Present analyses suggest that shares could list around ₹1,930, just beneath the upper IPO price band of ₹1,960.
Historical Context of Hyundai’s IPO
This IPO is a landmark event as it represents the first public offering by an automaker in India since Maruti Suzuki’s listing in 2003. Established in 1996, Hyundai Motor India Ltd (HMIL) has established itself as a leading player in the country’s automotive market. Importantly, this offering comprises entirely of an offer-for-sale (OFS) of 14.22 crore equity shares from its parent company, Hyundai Motor Company, meaning HMIL will not receive any proceeds from this IPO.
Important Dates to Remember
- Allotment Date: October 18, 2024
- Credit of Shares to Demat Accounts: October 21, 2024
- Listing Date on BSE and NSE: October 22, 2024
Investors are encouraged to keep track of these critical dates and steps to facilitate a seamless transition when trading begins post-listing.
Conclusion
The Hyundai IPO not only signifies a remarkable event in India’s capital markets but also presents a compelling investment opportunity for market participants looking to tap into one of the nation’s foremost automotive manufacturers. As the allotment date unfolds today, investors should act promptly to check their allotment status and prepare for the subsequent listing.Disclaimer: The views expressed in this article are solely those of individual analysts or brokerage firms and do not reflect the opinions of the publication. It is advisable for investors to consult qualified professionals before making any investment decisions.