The much-anticipated Hyundai Motor IPO is gathering momentum in the Indian stock market, with the Grey Market Premium (GMP) being closely tracked by potential investors. As of October 8, 2024, the Hyundai Motor IPO GMP has dropped slightly to ₹280 from ₹290 the previous day, reflecting fluctuating demand in the grey market. This minor decrease follows a peak of ₹370 seen earlier in the week, suggesting shifting investor sentiment as the official IPO dates draw closer.
Hyundai Motor’s IPO is expected to open in October/November 2024 and could be one of the biggest IPOs of the year. With the company aiming to raise ₹[.] crores, the price band for the IPO is fixed at ₹[.] to ₹[.] per share. Investors will be able to bid in lots of [.] shares. For retail investors and grey market traders, keeping an eye on the GMP is crucial, as it provides early insight into how the stock might perform upon listing.
Hyundai Motor IPO Grey Market Premium (GMP) Trends
The grey market is an unofficial marketplace where IPO shares are traded before they are officially listed on stock exchanges. While not officially regulated, GMP is seen as an indicator of investor sentiment toward an upcoming IPO. In Hyundai Motor’s case, the GMP has fluctuated in the days leading up to the opening, as detailed below:
- 8 October: GMP ₹280, Kostak ₹-, Subject to ₹1,700
- 7 October: GMP ₹290, Kostak ₹-, Subject to ₹1,800
- 6 October: GMP ₹370, Kostak ₹-, Subject to ₹2,500
- 4 October: GMP ₹370, Kostak ₹-, Subject to ₹2,500
- 3 October: No trades recorded
Also Read: IPO GMP
Kostak and Subject to Sauda Rates
In addition to the GMP, grey market participants often look at Kostak and Subject to Sauda rates, which provide further insights into demand. Kostak rates reflect the price at which an investor can sell their IPO application (regardless of allotment), while Subject to Sauda rates are deals where the seller guarantees a profit if the shares are allotted.
As of October 8, 2024, the Kostak rate is not available, but the Subject to Sauda rate has dropped to ₹1,700 from ₹1,800 the day before, indicating a slight cooling of demand among grey market traders.
Hyundai Motor IPO: Key Details
Hyundai Motor India Limited is a well-known name in the Indian automobile market, and its IPO has generated significant interest. Here are the key details:
- IPO Open Date: Oct/Nov 2024
- IPO Close Date: Oct/Nov 2024
- Face Value: ₹10 per equity share
- IPO Price Band: ₹[.] to ₹[.] per share
- Market Lot: [.] shares
- Issue Size: Approx ₹[.] crores, consisting of 142,194,700 equity shares
- Fresh Issue: Approx ₹[.] crores
- Offer for Sale: 142,194,700 equity shares
- Listing: BSE and NSE
- Retail Quota: Not more than 35%
- QIB Quota: Not more than 50%
- NII (HNI) Quota: Not more than 15%
Important Dates for Hyundai Motor IPO
For investors looking to participate in the Hyundai Motor IPO, here are the important dates to keep in mind:
- IPO Open Date: Oct/Nov 2024
- IPO Close Date: Oct/Nov 2024
- Basis of Allotment: Oct/Nov 2024
- Refund Initiation: Oct/Nov 2024
- Credit of Shares to Demat Account: Oct/Nov 2024
- IPO Listing Date: Oct/Nov 2024
About Hyundai Motor India Limited
Hyundai Motor India Limited (HMIL) is a subsidiary of the global Hyundai Motor Group, the third-largest automobile original equipment manufacturer (OEM) based on passenger vehicle sales in 2023, as reported by CRISIL. Established in 1996, HMIL has become one of the key players in India’s automotive market. Since 2009, it has consistently ranked as the second-largest auto OEM in the Indian passenger vehicle market, a position achieved through the company’s dedication to innovation and quality.
Hyundai Motor India is known for its range of reliable, feature-rich, and innovative four-wheeler passenger vehicles, which cater to different segments of the market. Its popular models include hatchbacks, sedans, and SUVs such as the Grand i10 NIOS, i20, i20 N Line, AURA, Elantra, Venue, Venue N Line, Verna, Creta, Creta N Line, Alcazar, Tucson, and the all-electric SUV Ioniq 5.
With a network of 1,366 sales points and 1,550 service points across India, Hyundai has a strong presence in the country’s automobile landscape. As of March 31, 2024, the company has sold nearly 12 million vehicles in India and through exports to markets such as Africa, the Middle East, Bangladesh, Nepal, Bhutan, and Sri Lanka.
Hyundai’s manufacturing facility near Chennai is one of its most significant assets, capable of producing its full range of vehicle models. The company also manufactures key automotive components, including transmissions and engines.
Hyundai Motor IPO Registrar
The registrar for Hyundai Motor’s IPO is Kfin Technologies Limited, which will handle the IPO allotment and refund process. For any queries related to the IPO, investors can reach out to the registrar using the following contact details:
- Phone: 04067162222, 04079611000
- Email: hmil.ipo@kfintech.com
- Website: kfintech.com
Financial Performance of Hyundai Motor India Limited
Hyundai Motor India has demonstrated strong financial performance over the years. Here is a summary of its financials as of March 31, 2024:
| Financial Year | Assets (₹ Crores) | Revenue (₹ Crores) | Profit After Tax (₹ Crores) | Net Worth (₹ Crores) |
|---|---|---|---|---|
| 31 Dec 2023 | 32,488.34 | 53,298.09 | 4,382.87 | 19,777.92 |
| 31 Mar 2023 | 34,573.34 | 61,436.64 | 4,709.25 | 20,054.82 |
| 31 Mar 2022 | 28,358.06 | 47,966.05 | 2,901.59 | 16,856.26 |
| 31 Mar 2021 | 26,730.57 | 41,404.65 | 1,881.16 | 15,311.34 |
These strong financials indicate Hyundai Motor India’s resilience and growth potential, making it a highly anticipated IPO.
Conclusion
The Hyundai Motor IPO is shaping up to be one of the most closely watched public offerings of 2024. With the Grey Market Premium at ₹280 as of today, the IPO is expected to generate significant interest among retail and institutional investors alike. As the opening date approaches, keep tracking the GMP, Kostak rates, and other market indicators to make informed decisions.
Stay tuned for live updates on Hyundai Motor IPO’s Grey Market Premium, allotment status, and listing performance as the stock makes its debut on BSE and NSE.