Hyundai IPO Allotment Status [India 2024]

As of today, October 18, 2024, the automotive industry in India has witnessed a significant event. It was the allotment of shares for Hyundai Motor India’s Initial Public Offering (IPO). Here’s everything you need to know about the Hyundai IPO allotment status. We’ll talk about its implications, and how to check if you’ve been allotted shares.Hyundai Motor India, a subsidiary of the South Korean automotive giant Hyundai Motor Company, launched its IPO with much anticipation. The IPO was priced between Rs.1,865 and Rs.1,960 per share. The IPO aimed to raise Rs.27,870.16 crore, marking it as one of the largest in India’s history.The subscription window closed on October 17, 2024. The issue being subscribed overall by only 2.37 times. Thanks largely to Qualified Institutional Buyers (QIBs), even retain investors showed only muted interest in this IPO.Allotment DayToday, the shares are expected to be allotted to investors. Given the subscription numbers:Retail Investors: All retail bidders are likely to receive an allotment. As the category is not being fully subscribed (about 50%), all bidders will get their shares. This means if you’re a retail investor, chances are high you’ll get the shares you applied for.QIBs and Other Categories: While QIBs showed more interest. This category was subscribed about 6.97 times. Even the non-institutional investor category saw less enthusiasm (was subscribed by only 60%).However, due to the overall subscription rate being low, even QIB category might see favorable allotment ratios.How to Check Your Allotment StatusIf you’ve applied for the Hyundai IPO, here’s how you can check your allotment status:Via BSE Website:Visit the BSE website to check your application status.Select ‘Hyundai Motor India Limited’ from the dropdown menu in the issue name section.Enter your application number or PAN to view your allotment status.Through Kfin Technologies Website:Go to the Kfin Technologies website (ipostatus.kfintech.com).Choose ‘Hyundai Motor IPO’ from the list.Enter your PAN, application number, or DP Client ID to check your status.Market Sentiment and Listing ExpectationsPosts on X and various financial analyses suggest a mixed sentiment. The Grey Market Premium (GMP) indicates a weak listing, with shares trading at a slight discount.[Note: The Grey Market Premium (GMP), is essentially the extra amount over the issue price that investors are willing to pay for IPO shares in the grey market. Grey Market is the unofficial market where shares are traded before they are officially listed on the stock exchange. Its relevance to IPOs lies in its function as an indicator of the market’s anticipation and demand for the IPO. A high GMP suggests strong interest and potentially a higher listing price. Similarly, a low or negative GMP might indicate less enthusiasm or a possible discount listing.]This could mean that Hyundai Motor India’s shares might list below or around its issue price It is a reflection of the investor caution due to various market factors, including valuation concerns existing overall market sentiments.What’s Next for this IPO?Listing Date: The shares are scheduled to list on both BSE and NSE on October 22, 2024. Investors should keep an eye on how the stock performs post-listing.Refund and Share Credit: For those who don’t get an allotment or get partial allotment, refunds will be initiated soon. For successful applicants, shares will be credited to their demat accounts.Final ThoughtsThe Hyundai IPO marks a significant event not just for Hyundai but for the entire automotive sector in India.While the initial market response seems not so warm, I think, the long-term performance of Hyundai in India’s growing automotive market could hold different prospects.Investors and observers alike will be watching closely how this IPO influences market dynamics and investor confidence in automotive stocks.I might try to invest in Hyundai Motors shares after its listing. As the Indian stock market looks to be in a consolidation phase, there are chances that we may get to buy this shares at more attractive price levels (better than the IPO’s offer price).Have a happy investing.