Company fixed price band for shares
Hyundai IPO GMP Price: The date of IPO of Hyundai Motor India, the Indian unit of South Korean automobile company Hyundai, has been announced. Along with the date of IPO, the company has also announced all the other important details including the price band of the shares. Let us tell you that the IPO of the leading automobile company will open for subscription on October 15 and will close on October 17.
Company fixed price band for shares
Hyundai Motor India has fixed the price band of Rs 1865 to Rs 1960 for each share under its IPO. In this sense, retail investors will be able to get only 7 shares in one lot. Retail investors will have to invest at least Rs 13,720 to subscribe for this IPO. It is believed that the price of shares fixed by the company is not being liked by the retail investors and its direct impact is being seen on the GMP price of the company’s shares.
Huge fall in GMP price
According to the websites that track the GMP price of shares, from October 4 to October 6, the GMP price of Hyundai Motor India shares was Rs 370, which has fallen to only Rs 145 today. On October 7, its GMP price fell from Rs 370 to Rs 290 and then on October 8 it fell to Rs 270. But today after the announcement of the price band by the company, there was a huge decline in it and it directly reached Rs 145 from Rs 270.
The company will be listed in the stock market on October 22.
Let us tell you that the IPO of Hyundai Motor India will close on October 17, after which the shares will be allotted to the subscribers on October 18. Shares will be credited to the demat accounts of investors on October 21 and finally on October 22, Hyundai Motor India will also be listed on the major stock exchanges BSE and NSE.
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