IPO not even half subscribed yet
Hyundai IPO GMP Price Today: Today is the last day to subscribe for Hyundai Motor India’s IPO. This IPO, which opened on Tuesday, October 15, will close today i.e. on October 17. This is India’s biggest IPO. Hyundai Motor India is going to raise Rs 27,870.16 crore under this IPO. However, investors are not ready to pay any attention to the company’s IPO.
IPO not even half subscribed yet
Today is the last day of the IPO of this leading automobile company and till the time of writing the news, only 45 percent i.e. 0.45 times subscription has been received. This simply means that investors are not liking this IPO at all. Usually good IPOs get fully subscribed within just a few hours of opening.
There is no demand for Hyundai shares in the gray market.
Based on the fundamentals of the IPO and the attention it is getting from investors, no one is asking for Hyundai Motor India shares even in the gray market. The price of the company’s shares is falling day by day in the gray market. On Thursday, October 17, the GMP price of Hyundai Motor India’s IPO has fallen to just Rs 17. Let us tell you that on October 4, its GMP price was Rs 370. Not only this, if such circumstances arise that this IPO is not 100 percent subscribed, then it is also possible that its GMP price may become negative.
Hyundai Motor India will be listed in the stock market on October 22.
Let us tell you that under the IPO, the allotment of shares is to be done tomorrow i.e. on 18th October and then on Tuesday, 22nd October the company will be listed in the stock market. Under this IPO, Hyundai Motor India had fixed the price band of Rs 1865-1960 for each share. These IPOs are completely OFS based, in which the promoters of the company are selling their stake in the company. No fresh shares will be issued in this IPO.
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