Subscription to the initial public offering (IPO) of Hyundai Motor India Ltd (HMIL) was just 2.37 times, with retail and high net worth individuals (HNIs) staying largely indifferent to the country's biggest ever maiden share sale.
The IPO received bids for 236 million shares, worth ₹46,320 crore, as against 99.77 million on offer. Over 80 per cent of the bids came from qualified institutional buyers (QIBs), with the quota reserved for them getting seven times more demand than the shares on offer.
Within the QIB segment, close to 60 per cent of the bids, worth ₹22,540 crore, came from overseas investors.
Meanwhile, the retail and HNI quotas remained undersubscribed at 60 per cent and 50 per cent, respectively. The portion reserved for employees garnered 1.7 times subscription owing to a discount of ₹186 per share offered to them.
Bu hikaye Business Standard dergisinin October 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin October 18, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Industry bodies urge FinMin to ease TDS rate structure
Proposal seeks to lessen compliance burden on taxpayers and avoid litigation
After SC rap, Centre doubles penalty for stubble burning
Burning issue
Proactively made all disclosures, recusals: Sebi WTM on Cong's charges
Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.
Market regulator may water down skin-in-game rules for MF executives
The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms applicable to senior executives of the mutual fund (MF) industry.
MSCI adds 5 Indian stocks to key index
MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weighting on the index to 20 per cent, further narrowing the gap with China.
Trump's triumph: Will bulls run amok and gold, silver sparkle?
Top brokerages highlight opportunities, risks, and contradictions the new administration may offer
REIMAGINING ROLE OF AGRICULTURE
In the changed context of economic development, agriculture is seen playing a much larger role than perceived in the dominant thinking in development economics
Inside the world of mad billionaires
Two things about this book and its authors. One, this is the most unputdownable non-fiction that I have read this entire year.
Funding education
Easy financial assistance is not enough
Policy approach
RBI is acting selectively and with care
