Hyundai Motor India IPO: The country’s largest IPO is opening for investment from next week. We are talking about Hyundai Motor India Limited IPO. Hyundai Motor India’s Rs 25,000 crore IPO will open for investment on Tuesday, October 15. Investors will be able to invest money in this issue till Thursday, October 17. This IPO will open for anchor investors on Monday, October 14. The price band has been fixed for this. The price band of Hyundai Motor India Limited IPO has been fixed between ₹1,865 to ₹1,960 per share. Let us tell you that this will be India’s biggest IPO. Till now, the share sale of Rs 21,000 crore of Life Insurance Corporation of India (LIC) is considered to be the largest IPO. However, the stock is continuously falling in the gray market and till now it has seen a huge fall of 70%.
What are the details of IPO?
The lot size of Hyundai Motor India IPO is 7 equity shares and in multiples of 7 equity shares thereafter. Hyundai Motor India IPO has reserved more than 50% of the shares in the IPO for qualified institutional buyers (QIBs), 15% for non-institutional institutional investors (NIIs) and 35% of the offer for retail investors. The employee reservation portion includes up to 778,400 equity shares. Eligible employees bidding in the employee reservation portion are being offered a discount of ₹186 per equity share. Let us inform that the basis of Hyundai Motor India IPO for allotment of shares will be finalized on Friday, October 18 and the company will start the refund on Monday, October 21. Whereas the shares will be credited to the demat account of the allottees on the same day after refund. , Shares of Hyundai Motor India may be listed on BSE and NSE on Tuesday, 22 October.
Also read: This company will give 3 shares for free on 1 purchase, there is a rush to buy shares, the price is less than ₹ 200
GMP continuously falling
According to InvestorGain.com, Hyundai Motor India IPO GMP is at a premium of Rs 147 today. Considering the upper price band of the IPO and the existing premium in the gray market, the estimated listing price of Hyundai Motor India share price could be ₹2,107 per share. This is 7.5% higher than the IPO price of ₹147. Let us tell you that the shares of gray market company are continuously falling. Today these shares are available in the gray market at a premium of Rs 147, whereas on October 7 this share was available at a premium of Rs 270. Its GMP on 3 October was ₹360 and on 28 September its GMP was ₹500. That means its price in the gray market has fallen by 70% till now.
