Hyundai India IPO subscribed 17% on Day 1 so far, retail portion booked 26%

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Hyundai India IPO subscribed 17% on Day 1 so far, retail portion booked 26%

Hyundai India IPO: So far, NII portion has been booked 7% and employee portion 46%

October 15th, 2024 IPO

Quarterly IPO Performance Report: Hyundai Motor India

IPO Overview:

IPO Size: ₹27,870 crore
IPO Dates: October 15 - October 17, 2024
Offer Type: Entirely Offer for Sale (OFS) of 14,21,94,700 equity shares
Promoter: Hyundai Motor Company (HMC), South Korea
Anchor Investment Raised: ₹8,315.3 crore from 225 anchor investors on October 14, 2024

Day 1 Subscription Performance (as of 4:30 PM, October 15, 2024)

Investor Category	Subscription (%)
Overall Subscription	17%
Retail Investors	26%
Non-Institutional Investors (NII)	13%
Qualified Institutional Buyers (QIBs)	5%
Employee Subscription	77%

Key Investor Participation:

Anchor Investors:
- Global institutional giants such as the Government of Singapore, Fidelity, and Government Pension Fund Global invested ₹2,191.66 crore.
- Notable mutual funds like ICICI Prudential, HDFC, SBI, and Axis were allocated shares in the anchor round.
- A total of 1.46 crore equity shares (34.42% of anchor allocation) were allotted to 21 domestic mutual funds via 83 schemes.

Key Highlights:

IPO Size and Allocation:
- Hyundai Motor India's IPO aims to raise ₹27,870 crore, making it the largest-ever IPO in India's history, surpassing the Life Insurance Corporation (LIC) IPO.
- The offering consists solely of an OFS by Hyundai Motor Company, with no fresh issue.
Steady Retail Demand:
- Retail investors have shown steady interest, with 26% of the allocated retail portion already subscribed.
- Retail bids amounted to 1.27 crore shares against the 4.94 crore shares on offer.
Anchor Investor Momentum:
- On October 14, Hyundai Motor India raised ₹8,315.3 crore from 225 anchor investors, with a significant global institutional participation.
- The anchor book included key global investors like Baillie Gifford, Vanguard, Blackrock, and Canada Pension Plan Investment Board.
Employee Enthusiasm:
- The employee portion saw 77% subscription on the first day, with employees placing bids for 5.96 lakh shares out of the 7.78 lakh available.
Market Impact and Brand Visibility:
- Hyundai Motor India's IPO listing is expected to significantly enhance the company's visibility, liquidity, and public presence in the Indian market.

Outlook: Hyundai Motor India's IPO has garnered a robust response from a wide range of investors. With anchor investments led by marquee names globally and steady retail demand, the offering is well-positioned to be a landmark event in India's financial market history. The IPO closes on October 17, and investor interest is expected to rise in the final days.