Hyundai IPO Listing Date: The IPO of Hyundai Motor India Limited, which is India’s largest IPO till date, is going to be listed in the stock market tomorrow. The company’s shares are to be listed on BSE and NSE on Tuesday, October 22. Ahead of the listing, Hyundai Motor’s IPO has recovered slightly in the gray market and is indicating 3% profit. That means a profit of only Rs 75 is visible on each share. Earlier its GMP had gone negative. Let us tell you that the country’s largest IPO was subscribed only 2.37 times in three days. There was a very lukewarm response from retail investors.
what are the details
The IPO of Hyundai Motor India Limited was opened for investment between 15 and 17 October. Its price band was fixed at Rs 1960. It was subscribed 2.37 times in three days. According to NSE data, bids were received for 23,63,26,937 shares against the offer of 9,97,69,810 shares under the IPO, which has a size of around Rs 27,870 crore. The qualified institutional buyers (QIB) category was subscribed 6.97 times while the non-institutional investors quota was subscribed 60 per cent. The quota fixed for retail investors was subscribed 50 percent. Hyundai Motor India Limited (HMIL) had raised Rs 8,315 crore from anchor investors before the opening of the IPO.
Expert opinion
Founder of Kejriwal Research, Arun Kejriwal told that considering various things like GMP and valuation, there is a possibility of flat listing of the company’s shares. Its valuation is quite high. In such a situation, the investors who have got this IPO should sell and exit if they get even 2-3% profit on listing. According to Kejriwal, the shares of the company will definitely be buzzing in the next 3-4 days, but for now investors should not expect much profit from this stock. Arun Kejriwal says that there may be a possibility of growth in the next 15 months. Till that time, there will be many such opportunities when retail investors can place bets. At present it would be premature to invest in this stock. On the other hand, correction is also coming in the Indian stock market.
Also read: Mukul Aggarwal bought 9 lakh shares of this company, shares became rocket as soon as the news came. Also read: Tata company’s IPO will come! There was a rise of up to 14% in these shares of the group, check details
what are the details
This IPO is entirely based on an offer for sale (OFS) of 14,21,94,700 equity shares by the promoter company Hyundai Motor Company (HMC) and no new equity shares have been issued in it. In such a situation, HMIL will not get any amount from the share sale. This is the first IPO of an automobile manufacturer in the last two decades since Maruti Suzuki’s listing in 2003. The South Korean parent company is selling some of its stake through the OFS route.
