The initial public offering (IPO) of Hyundai Motor India Ltd (HMIL) was oversubscribed 2.37 times, with significant support coming primarily from qualified institutional buyers (QIBs). Despite being the country’s largest-ever maiden share sale, retail investors and high-net-worth individuals (HNIs) showed limited interest in the offering.
The IPO received bids for 236 million shares, amounting to ₹46,320 crore, against the 99.77 million shares available for sale. Notably, over 80% of the total bids were placed by QIBs, with their segment witnessing a remarkable seven times the demand compared to the shares on offer.
Within the QIB category, nearly 60% of the bids, valued at ₹22,540 crore, originated from overseas investors, indicating a strong international appetite for the offering. In contrast, the retail and HNI quotas were undersubscribed, with only 60% and 50% subscription rates, respectively.
Additionally, the employee quota saw a subscription of 1.7 times, likely driven by the attractive discount of ₹186 per share offered to them. This mixed response highlights the varying levels of interest among different investor segments in this landmark IPO.
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