Hyundai Motor India a subsidiary of South Korean auto giant Hyundai Motor is set to make its stock market debut on Tuesday October 22 marking a historic moment in the Indian stock market. The company’s shares will begin trading after successfully completing a $3.3 billion IPO subscription process last week which has drawn significant attention from investors and analysts alike. Largest IPO Largest Indian Stock Market History This IPO is considered as the largest in Indian stock market history surpassing the Life Insurance Corporation of Indias (LIC) 2022 record. The LIC IPO raised $2.5 billion while Hyundai Motors raised a record-breaking $3.3 billion. The price band for the Hyundai Motor India IPO has been set between Rs 1865 and Rs 1960 per share. This is Hyundai Motor’s first listing outside South Korea. Hyundai Motor IPO Structure The IPO is structured as a pure offer for sale (OFS) meaning the entire proceeds from the public offering will go to the promoter. A total of 141416300 equity shares were issued with specific allocations made to different categories of investors. Retail investors were allocated 49495705 shares Qualified Institutional Buyers (QIBs) received 28283260 shares and Non-Institutional Investors (NIIs) were given 21212445 shares. Hyundai Motor IPO: Subscription Details The IPO was overall subscribed 2.37 times by the close of bidding on October 17 2024 the third and final day of the subscription. While retail investors subscribed to only 0.50 times their allocated portion QIBs showed robust interest subscribing 6.97 times. NIIs subscribed to 0.60 times the shares allocated to them. Hyundai Motor IPO: GMP Price As of October 21 Hyundai Motor India shares were attracting a premium of nearly 4% in the unofficial market indicating strong investor interest. This is a notable improvement from the discount seen a few days earlier. The Grey Market Premium (GMP) for the stock currently hovers between Rs 35 and Rs 37. Based on the price band of Rs 1960 the stock is expected to list at approximately Rs 1997 reflecting a modest premium of about 1.89%. Hyundai Motor: The Second-Largest Carmaker in India Hyundai Motor India is the second-largest carmaker in the Indian market following Japan’s Maruti Suzuki. The company’s IPO has raised interest in how it will leverage the funds to enhance its competitiveness in one of the worlds largest automobile markets. Hyundai Motor: Top Merchant Bankers & Manager The Hyundai Motor India IPO has been managed by a group of leading merchant bankers including Kotak Mahindra Capital Company Citigroup Global Markets India HSBC Securities and Capital Markets (India) JP Morgan India and Morgan Stanley India. KFin Technologies has been appointed as the registrar to handle the IPO process smoothly for all investors.