Hyundai Motor India Limited (HMIL), is a wholly owned subsidiary of Hyundai Motor Company (HMC). In line with HMC’s global brand vision of ‘Progress for Humanity’ they adopt sustainable and green manufacturing operations, offering mobility solutions with industry leading technology.

Hyundai Motor India, an Book Built Issue amounting to ₹27,870.16 Crores, consisting entirely an Offer for Sale of 1,421.94 Lakh Shares. The subscription period for the Hyundai Motor India IPO opens on October 15, 2024, and closes on October 17, 2024. The allotment is expected to be finalized on or about Friday, October 18, 2024, and the shares will be listed on the BSE NSE with a tentative listing date set on or about Tuesday, October 22, 2024.

The Share price band Hyundai Motor India IPO is set at ₹1,865 to ₹1,960 equity per share, with a minimum lot size of 7 shares. Retail investors are required to invest a minimum of ₹13,720, while the minimum investment for High-Net-Worth Individuals (HNIs) is 15 lots (105 shares), amounting to ₹2,05,800.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J.P. Morgan India Private Limited and Morgan Stanley India Company Private Limited are the book-running lead manager, KFin Technologies Limited is the registrar for the Issue.

Hyundai Motor India Limited IPO GMP Today
The Grey Market Premium of Hyundai Motor India Limited IPO is expected to be ₹0 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Hyundai Motor India Limited IPO Live Subscription Status Today: Real-Time Updates
As of 05:00 PM on 15 October 2024, the Hyundai Motor India IPO live subscription status shows that the IPO subscribed 0.18 times on its First day of subscription period. Check the Hyundai Motor India IPO Live Subscription Status Today at BSE.

Hyundai Motor India Limited IPO Anchor Investors Report
Hyundai Motor India has raised ₹8,315.27 Crore from Anchor Investors at a price of ₹1,960 per shares in consultation of the Book Running Lead Managers. The company allocated 42,424,890 equity shares to the Anchor Investors. Check Full list of Hyundai Motor India Anchor Investors List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion. 

Hyundai Motor India Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online 
Hyundai Motor India IPO allotment date is 18 October, 2024, Friday. Hyundai Motor India IPO Allotment will be out on 18th October 2024 and will be live on Registrar Website from the allotment date. Check Hyundai Motor India Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Hyundai Motor India Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Hyundai Motor India Limited IPO
Hyundai Motor India will not receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Promoter Selling Shareholder after deduction of Offer related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholder.

Refer to Hyundai Motor India Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Pranik Logistics Limited,  Afcons Infrastructure Limited, Archit Nuwood Industries Limited, Hyundai Motor, Swiggy.

The current active IPO is  Shiv Texchem Limited IPO, Garuda Construction and Engineering Limited IPO.

The Recently Listed IPOs which is available for trading in stock Market are Paramount Dye Tec Limited IPO, Subam Papers Limited IPO, Neopolitan Pizza and Foods Limited IPO, HVAX Technologies Limited IPO, Saj Hotels Limited IPO, Forge Auto International Limited IPO, Nexxus Petro Industries Limited IPO, Diffusion Engineers Limited IPO, Saharsa Electronic Solutions Limited IPO, Thinking Hats Entertainment Solutions Limited IPO, Unilex Colours and Chemicals Limited IPO, TechEra Engineering India Limited IPO, KRN Heat Exchanger & Refrigerator Limited IPO, Wol 3D India Limited IPO , Manba Finance Limited IPO, Rappid Valves (India) Limited IPO, Avi Ansh Textile Limited IPO , S D Retail Limited IPO, BikeWo Green Tech Limited IPO, Kalana Ispat Limited IPO, Phoenix Overseas Limited IPO, Paramount Speciality Forgings Limited IPO, Pelatro Limited IPO, Osel Devices Limited IPO, Northern Arc Capital Limited IPO, Arkade Developers Limited IPO, Deccan Transcon Leasing Limited IPO, Bajaj Housing Finance Limited IPO, Tolins Tyres Limited IPO, Envirotech Systems Limited IPO and many more.

Read more

About Hyundai Motor India Limited

Hyundai Motor India is a part of the Hyundai Motor Group, the third largest auto original equipment manufacturer (“OEM”) in the world based on passenger vehicle sales in CY2023. They have been the second largest auto OEM in the Indian passenger vehicles market since Fiscal 2009 (in terms of domestic sales volumes). They have a track record of manufacturing and selling four-wheeler passenger vehicles that are reliable, safe, feature-rich, innovative and backed by latest technology. This is demonstrated in their portfolio of 13 models across multiple passenger vehicle segments by body type such as sedans, hatchbacks, sports-utility vehicles (“SUVs”) and battery electric vehicles (“EVs”). They also manufacture parts, such as transmissions and engines that they use for their own manufacturing process or sales. They have been India’s second largest exporter of passenger vehicles from April 1, 2021 through June 30, 2024, according to the CRISIL Report. Since 1998 and up to June 30, 2024, they have cumulatively sold more than 12 million units of passenger vehicles in India and through exports. They believe their current market position is because of (i) their wide product offerings, (ii) stakeholder relationships and operations; (iii) the strong Hyundai brand in India; (iv) their ability to leverage new technologies to enhance operational and manufacturing efficiency; and (v) their ability to expand into new businesses such as EVs through innovation. In CY2023, they were among the top three contributors to HMC’s global sales volumes, and their contribution to HMC’s sales volumes has increased from 15.48% in CY2018 to 18.19% in CY2023.

Indian Passenger Vehicle Industry
Between Fiscals 2019 and 2024, India’s domestic PV sales volume rose at 5% CAGR. This growth was despite the sales contraction (at 10% CAGR) witnessed during Fiscals 2019 to 2021. From the low base of Fiscal 2021, PV sales bounced back and grew at a healthy pace to reach a historic high of 4.2 million vehicles in Fiscal 2024. 

In Fiscal 2020, contraction of the economy put pressure on vehicle sales. Moreover, the Non-Banking Financial Company (NBFC) liquidity crisis and halting of BS-IV vehicle production amid mandatory implementation of BS-VI norms from Fiscal 2021 exerted added pressure during the year. The industry also lost nearly half a month’s sales at fiscal year-end owing to outbreak of the COVID-19 pandemic and subsequent nationwide lockdown. 

In Fiscal 2021, domestic sales volume continued to be impacted by the first wave of the pandemic. A nation-wide lockdown, reduced mobility, and supply chain constraints leading to production cuts weighed on annual sales. Despite some improvement in sales with the reopening of the economy and increased demand for personal mobility during the second half of the year, sales contracted approximately 2.2% year-on-year owing to the additional price hikes due to implementation of the BS-VI norms. 

Fiscal 2022 began with a much severe second wave of COVID-19. State-imposed lockdowns, economic uncertainty, and a global shortage of semiconductor supply caused extended waiting periods that impacted sales, especially in the first half of the year. There was some improvement in the economic scenario with the reopening of markets in the second half of the fiscal. Pent-up vehicle demand, further increased need for personal mobility and improved supply scenario provided thrust to PV sales during the second half. After a two-year consecutive drop, PV sales rose 13% from a very low base of Fiscal 2021. 

In Fiscal 2023, the PV industry grew at a rate of 27% year-on-year, which was more than double the rate of 13% year-on-year witnessed during Fiscal 2022, owing to the healthy pent-up demand created by two years of slump in sales volume. The orderbooks of auto OEMs were further supported by several new launches in the growing SUV category, which saw higher traction, along with multiple facelifts of existing models and easing supply of semiconductors. In fact, overall wholesale volume reached a historic high of 3.9 million units in the fiscal. 

During Fiscal 2024, growth momentum of the industry continued, albeit at a slower pace, backed by the continued traction for the SUV segment, intermittent launches and improvement in disposable income. Off the high base of Fiscal 2023, the industry grew by 8.4% in Fiscal 2024 to reach the historic high of 4.2 million units. During Q1 FY25, industry witnessed a million-vehicle offtake, an approximately 3% year-on-year increase. Hatchbacks continued to remain under pressure while the SUV and MPV segments primarily drove the industry growth.

The PV industry value witnessed a healthy growth from Fiscal 2019 to 2024 period, growing at approximately 13% CAGR. The average vehicle factory prices (ex-factory prices) rose at 8% CAGR during Fiscals 2019 to 2024 period led by rising share of premium vehicles. Additionally, price hikes undertaken by OEMs for compliance with emission norms and due to increase in raw material costs provided an added push to average prices. 

Total sales (domestic + exports) volumes of the industry, on the other hand, grew at a subdued pace of 4% CAGR during the period. In fact, total vehicle sales (domestic + exports) dropped at 12.0% CAGR till Fiscal 2021 dragging the industry value down in Fiscal 2021. From this low base, total sales (domestic + exports) grew at 16% CAGR till Fiscal 2024 thrusting the industry revenues forward. A sharp rise at a CAGR of approximately 12% in average prices amidst premiumization trend lent further support to industry during Fiscal 2021-24 period, leading to growth of the industry value at approximately 30% CAGR, to reach an estimated INR 3.6 trillion by value.

Rise of SUVs
The SUV segment, which traditionally appealed to customers valuing larger seating capacity and its ability to drive on rough terrain, has increasingly gained customer preference over the years. The compact SUV segment, especially, provided the much-desired SUV body styling at competitive rates bringing SUV segment within the reach of the common consumers.

Recognising the changing consumer preferences, OEMs also launched higher number of vehicles in the SUV segment compared to other segments providing a further fillip to the SUV share expansion. In the last 5 years, 30+ SUVs were launched by the OEMs versus 4 hatchbacks and 3 sedans. 

Thus, the changing customer preference coupled with new vehicle launches provided the real thrust to the growth of the SUV segment. Prominent launches from players like Hyundai Motor India, Tata Motors, Mahindra & Mahindra3 , Maruti Suzuki aided the growth of this segment. Moreover, entry of global players like Kia and MG, with their SUV portfolios lent further support to the segment’s growth. 

All of this has led to the share of SUVs in overall domestic PV sales to more than double from 23% in Fiscal 2019 to 51% in Fiscal 2024. During the last 5 years, while industry witnessed a growth at 5% CAGR, the SUV segment grew at a growth rate of 23% CAGR, more than 4x industry growth rate. During Q1 Fiscal 2025, the SUV segment expanded its share further to approximately 54%. 

Within the SUV segment, compact SUVs (length <4m) grew in line (at 23% CAGR) with the overall SUV segment keeping its share steady around 58% within the SUV segment. 

Launch of Ford EcoSport provided a real thrust to the compact SUV subsegment in India around Fiscal 2014. Over the years, introduction of vehicles like Maruti Suzuki Brezza (Fiscal 2016) and Tata Nexon (Fiscal 2018) aided the growth of entire SUV segment as well as helped compact SUVs gain sizeable share within the SUV segment, reaching 58% by Fiscal 2019 from 48% in Fiscal 2014. Moreover, launch of Hyundai Venue (Fiscal 2020), Kia Sonet (Fiscal 2021), Tata Punch (Fiscal 2022), Maruti Suzuki Fronx (Fiscal 2024) over and above the launch of facelifts of other popular models backed the healthy growth of the compact SUV subsegment. 

During Q1 Fiscal 2025, continued traction for popular models like Tata Punch, Maruti Suzuki Brezza, Maruti Suzuki Fronx, Tata Nexon, Hyundai Venue, Hyundai Exter coupled with added push from new launches of Toyota Urban cruiser Taisor and Mahindra 3XO expanded the share of compact SUVs to approximately 61%. 

Introduction of Hyundai Creta in Fiscal 2016, has propelled the mid-size SUVs (length 4 - 4.4 m) segment. The mid-size SUV segment (24% CAGR) outpaced the entire SUV segment and has grown its share within the SUV segment in the last 5 years (till Fiscal 2024). Continued traction for the high selling models like Hyundai Creta & Kia Seltos as well as successful recent additions including Maruti Suzuki Grand Vitara, Toyota Urban cruiser Hyryder, and Honda Elevate provided the thrust to the growth of mid-size SUVs. The intermittent upgrades of the vehicles provided an added fillip to the sub segment’s growth.

Domestic Passenger Vehicle Industry
Going ahead, CRISIL MI&A expects the macroeconomic scenario to lend support to the industry growth with GDP projected to grow at a healthy pace between Fiscal 2024 to Fiscal 2029. India’s GDP growth is expected to outperform other major geographies in the next 5 years with an expected growth rate of 6-8%. India’s inflation levels are also expected to remain subdued in the 3-5% range, which is within the RBI’s target band. CRISIL MI&A has assumed 3 years of normal monsoons within the 5-year outlook period and has considered positive momentum in rural demand. Fuel prices are also expected to remain near steady in the next 5 years. These favourable macro-economic factors are expected to aid the consumer disposable income levels. 

Besides the macro-economic factors, continued support from government in terms of policies as well as continued expenditure and investments are expected to provide an added support. The favourable demographics is an added advantage for India which is also expected to help propel the passenger vehicle industry forward. 

Additionally, OEMs are expected to continue with launches of feature rich competitively priced vehicles aiding the overall demand growth. 

The changing consumer dynamics including younger consumer base, premiumisation, electrification, shorter replacement cycles (4-5 years currently versus 7-8 years a decade ago) will provide further impetus to the demand. 

Additionally, the government’s push for scrapping of old vehicles is expected to help in shortening replacement cycles and hence aid demand. Over and above these demand drivers, the capacity expansion by players like Maruti Suzuki, Hyundai Motor India, Tata Motors is expected to support the growing vehicle demand. Moreover, the expansion in the supporting infrastructure like EV charging stations and CNG pumps will also aid choices for customers across powertrains. 

CRISIL MI&A expects the industry to clock 4.5-6.5% CAGR between Fiscal 2024 to Fiscal 2029 period to reach 5.2-5.7 million domestic vehicle sales.

CRISIL MI&A has considered 3 different GDP growth scenarios for the next 5 years. At a 6% CAGR GDP growth scenario, the PV industry is projected to reach approximately 5.2 million units by Fiscal 2029 growing at 4.5% CAGR in the next 5 years. Assuming a 7% CAGR GDP growth, 5.5% CAGR growth can be achieved for the PV industry. If India achieves 8% CAGR GDP growth in the next 5 years, the domestic passenger vehicle industry will clock approximately 6.5% CAGR growth and reach approximately 5.7 million vehicle levels by Fiscal 2029 according to CRISIL MI&A estimates.

Electrification in the Indian PV Industry
Amid rising environmental concerns, electric vehicles (EVs) are gaining traction globally, including in India. The country is one of the signatories to the Paris Agreement under the United Nations Framework Convention on Climate Change. It is also part of the EV30@30 campaign, targeting a 30% sales share for EVs by 2030. 

To accelerate EV adoption, the government has been incentivising consumers by extending support via FAME (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India) subsidy as well as tax cuts. The government announced INR 100 billion for Phase II of FAME, which commenced on April 1, 2019. The policy aims to provide a subsidy of INR 10,000 per kWh to four-wheelers (battery EVs, plug-in hybrid EVs, strong hybrids) for commercial purposes and public transport. It also envisions creation of infrastructure for charging of EVs. 

These schemes alongside the Production Linked Incentive (PLI) schemes, scrappage policy, Battery Waste Management Rules 2022 as well as the Make in India initiative is setting up the roadmap for widespread EV manufacturing and adoption. 

Government support, coupled with rising awareness about EVs, environmental concerns, expansion in EV infrastructure as well as increasing EV model portfolio is driving electrification in India. The EV segment received a real thrust in the last two years backed by model launches at competitive rates, price hikes in ICE vehicles and elevated petrol and diesel costs. While EVs bring several cost benefits and have evolved into a desirable powertrain choice today, the public perception towards electric vehicles and awareness against pollution from ICE vehicles also played a major role behind the rise in EV adoption across the country.

During Fiscal 2021 to Fiscal 2024 period, EV retails increased at approximately 160% CAGR (17 times). This sharp rise in EV retails translated into 2.3% EV penetration in Fiscal 2024. Fiscal 2025 started on a positive note for EVs with the penetration levels rising to 2.5% levels during the first quarter.

Despite the improvement in EV penetration during recent years, electrification in the passenger vehicle segment is still at a quite nascent stage and there is a sizeable scope of expansion going ahead.

Online Car Sales in India
Online car sale is the process of selling cars through digital channels such as the company website, online platforms, and mobile applications. Digital retail platform enables customers to research, browse, configure, book and purchase car from the comfort of their homes. OEMs are recognizing this shifting preference and are embracing digital technologies to offer personalised and seamless experience to end customers. To improve the customer engagement through these digital channels, OEMs have introduced technologies including virtual showroom, vehicle configurator, AR/VR experience alongside integrating finance, insurance, used car valuator etc. Almost all OEMs in India including Maruti Suzuki, Hyundai Motor India and Kia have launched various digital initiatives to enable the car sale online. 

In 2020, Hyundai Motor India was amongst the first mass market players to introduced online automotive retail platform ‘Click to Buy’, an end-to-end online car buying platform that offered complete car retail experience to customers. The platform offers access to complete range of cars and offers complete spectrum of services with information including on-road prices, online finance options, dedicated sales consultants, special online promotions, estimated time of delivery, online test drive booking and home delivery of cars. 

Tata Motors also launched their ‘Click to Drive’ digital sales platform in 2020. However, unlike Hyundai Motor India’s platform this is not an end-to-end platform. Click to Drive enables customers to review the car online through configurator and book the car online. After booking buyers will be navigated to the nearest dealer and a sales consultant would guide the customer through the entire purchase process, including providing the on-road price, financing, and valuation of used car. Customers can choose to complete the process over email, WhatsApp, or video call. 

Maruti Suzuki launched the Smart Finance platform in 2020. Smart Finance is an AI driven, end-to-end car finance marketplace with multiple financiers. Customers can explore loan offers from multiple financiers, customised loan offers and track loan status in real time. As of Fiscal 2023, more than 30% of customers financed their cars through this mode. Although this is not an end-to-end car buying platform, smart finance acts as a facilitator between customer and financier.

HYUNDAI MOTOR INDIA LIMITED COMPETITIVE STRENGTHS
1. They are the second largest auto OEM in India and the leading exporter of passenger vehicles
2. They have a diverse portfolio of passenger vehicles across powertrains and major passenger vehicle segments
3. Their ability to identify emerging market trends in a timely manner and introduce innovative passenger vehicles and technologies to meet customer needs in India
4. Pan-India sales, distribution and after-sale services network offered by their dealers.
5. Digitisation across the value chain
6. Their flexible and automated manufacturing capabilities
7. Their experienced management team with a track record of delivering profitable growth and superior returns

HYUNDAI MOTOR INDIA LIMITED STRATEGIES
1. Leveraging their deep understanding of consumer preferences to successfully expand their passenger vehicle portfolio
2. Focus on continued premiumisation of their passenger vehicle portfolio
3. Calibrated manufacturing capacity expansion and efficient capital allocation
4. Focus on increasing EV market share
5. Further strengthening their position as the export hub for HMC
6. Continue to enhance their brand as a trusted brand in India
7. Further deepen their physical-and digital network for sales and services across India

HYUNDAI MOTOR INDIA LIMITED RISK FACTORS & CONCERNS
1. Two of their Group Companies, Kia Corporation and Kia India Private Limited, are in a similar line of business as them which may involve conflict of interests, which could adversely impact the business.
2. They depend primarily on their Group Company, Mobis India Limited (being a subsidiary of Hyundai Mobis Co., Ltd. which is specialised in after-sale parts business for HMC Group Companies), to supply spare parts for after sale services to them and their dealers.
3. They depend on HMC, their Promoter, for their operations, including for parts and materials (such as engines and transmission assembly) and research and development.
4. They have entered into the Royalty Agreement with HMC, their Promoter, and termination of the Royalty Agreement could adversely impact their business and results of operations.
5. A significant portion of the sales volumes are derived from the sale of non-EV passenger vehicles, and there is no assurance that they will be able to adopt their EV strategy successfully and cost-efficiently or at all.
6. They substantially depend on the sales of their SUV models in India. 
7. They currently manufacture their passenger vehicles and parts only at the Chennai Manufacturing Plant.
8. They are undertaking research to develop a cost-effective green hydrogen energy ecosystem in India.
9. The redevelopment of the Talegaon Manufacturing Plant or other plants they may expand or acquire in the future may be subject to delays, disruptions and cost overruns.