The equity shares of Hyundai Motor India Ltd. will be launched on stock exchanges today, marking the company’s debut on the Indian stock market. Due to the lackluster demand, today, October 22, has been set as the day for Hyundai’s initial public offering. The share price of Hyundai Motors Will be listed on the BSE and NSE stock exchanges today.
Due to a lackluster reaction from individual investors, the Hyundai India Motors initial public offering (IPO) barely survived the three-day period. As the issue came to an end, qualified institutional buyers (QIBs) stepped in to save the day, and the biggest initial public offering (IPO) in India was subscribed 2.37 times on the last day.
The stock’s listing price on the BSE was Rs 1,931, which is a 1.47 percent decrease from the issue price. The price then recovered somewhat and reached a high of Rs 1,968.80, up 0.44 percent. However, the stock fell 0.74 percent once again, closing at Rs 1,945.40.
Hyundai Motor India IPO GMP Today
A respectable 2.3 times as many people subscribed to Hyundai Motor India Limited’s initial public offering (IPO), with a full subscription on the final day. At Rs 67 (3.42%), the current grey market premium (GMP) indicates that a flat to mild listing is anticipated. Since the issuance is a full OFS, the business will not receive any money from the offer, and the IPO valuation appears to be fully priced.
Hyundai Motor India IPO details
Its massive ₹27,870-crore IPO exceeded LIC’s first share sale of ₹21,000 crore to become the largest ever. The South Korean manufacturer sold its shares at a fixed price range of ₹1,865-1,960 per share. The offer for sale (OFS) of 14.2 crore shares, which were sold by the parent company, Hyundai Motor Global, made up the entirety of this offer. If there is an OFS, the firm will not get any money from the IPO.
Nonetheless, they stated that it is a long-term strategy and anticipated that it will eventually yield strong profits. With a 14.6% domestic market share, Hyundai Motor India is the second-largest passenger vehicle manufacturer and exporter.
