Hyundai Motor India’s initial public offering (IPO) has captured significant attention as the largest in India’s history. The Hyundai IPO allotment date is set for today, October 18, 2024, following a successful subscription period that closed on October 17. The public issue, valued at ₹27,870 crore, was oversubscribed 2.37 times, attracting bids for 23.63 crore shares against the 9.98 crore shares available.
How to Check Your Allotment Status
Investors eagerly awaiting their share allotment can check the status through several platforms:
- 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”.
These steps will allow investors to confirm whether they have received shares from the Hyundai IPO.
Market Sentiment and Grey Market Premium
Despite a strong finish, the market sentiment surrounding the Hyundai IPO has been mixed due to ongoing volatility in the automotive sector. The grey market premium (GMP) has seen a sharp decline of nearly 80% since tracking began, indicating a potentially muted listing performance. Current trends suggest that shares may list around ₹1,930, slightly below the upper band of the IPO price of ₹1,960.
Historical Context of Hyundai’s IPO
This IPO marks a significant milestone as it is the first public offering by an automaker in India since Maruti Suzuki’s listing in 2003. Hyundai Motor India Ltd (HMIL) has been a dominant player in the Indian automotive market since its establishment in 1996. The offering consists entirely of an offer-for-sale (OFS) of 14.22 crore equity shares by its parent company, Hyundai Motor Company, meaning that 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
As investors await their allotment results today, they should stay informed about these key dates and processes to ensure a smooth transition into trading once shares are listed.
Conclusion
The Hyundai IPO represents not only a significant event in India’s capital markets but also an opportunity for investors to engage with one of the country’s leading automotive manufacturers. With today’s allotment date upon us, investors should take proactive steps to check their status and prepare for the upcoming listing.Disclaimer: The views expressed in this article are those of individual analysts or broking companies and do not reflect the opinions of the publication. Investors are advised to consult certified experts before making any investment decisions.
