Hyundai Motor India Limited’s initial public offering (IPO) continued to see modest investor interest on its third and final day of bidding, with an overall subscription of 0.45 times as of 10:36 am today. The employee portion remained the standout performer, achieving 1.43 times oversubscription.
The institutional investor segment (QIB) showed improved participation at 0.63 times, with foreign institutional investors dominating the category with bids for 1.77 crore shares. Domestic financial institutions contributed marginally with 826 shares, while other QIBs bid for 48,776 shares.
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Non-institutional investors subscribed to 0.28 times their allocated portion. In the high-value NIIs category (above ₹10 lakh), individuals led with bids for 25.49 lakh shares, while corporates bid for 1.17 lakh shares. The mid-value NIIs category (₹2-10 lakh) saw better traction at 0.43 times, with individuals bidding for 29.86 lakh shares.
Retail investors bid for 2.01 crore shares out of the 4.94 crore shares reserved, reaching a subscription rate of 0.41 times. The majority of retail investors opted for cut-off price bids, accounting for approximately 1.82 crore shares.
The company is offering nearly 10 crore equity shares through this IPO, which opened on October 15 and will close on October 17, 2024. About 4.94 crore shares are reserved for retail investors, followed by 2.82 crore shares for QIBs (net-off anchor portion) and 2.12 crore shares for non-institutional investors. A separate reservation of 7.78 lakh shares has been made for employees, which has been oversubscribed with bids for 11.11 lakh shares.
