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Hyundai IPO: Hyundai IPO: Bids at 42% on Day 2

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Hyundai IPO: Hyundai IPO: Bids at 42% on Day 2
Bombay: Hyundai Motor India‘S initial public offering (IPO) – the largest issue in India’s history – was subscribed 0.42 times on Wednesday, the second day of public issue. The Rs 27,870-crore IPO is priced at Rs 1,865-1,960 per share.

A section of non-institutional investors (NII), consisting mainly of high-net-worth individuals, subscribed 0.26 times, while a section of retail investors subscribed 0.38 times. The portion reserved for employees, offered at a discount of Rs 186 per share, was oversubscribed by 1.31 times (130%). Meanwhile, a qualified institutional buyer (QIB) part was subscribed 0.58 times.

Subscriptions for the IPO will be open until Thursday evening. Approximately 35% of all shares covered by the offer are reserved retail investorswhile QIB and NII are offered at 50% and 15% of the issue size.

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