Hyundai Motor IPO Listing: Hyundai Motor India IPO is listed in the stock market today. Everyone’s eyes are on the listing of the company’s IPO. It is a matter of concern for the company that very encouraging trends are not being seen from the gray market. In such a situation, it is possible that the listing of Hyundai IPO may be around the issue price. Let us tell you, today Hyundai IPO is trading at a premium of just Rs 48 in the gray market. A decline in the company’s GMP has also been seen during the last 2 days.
Retail investors rejected
Hyundai IPO was shocked by retail investors. On the last day of the IPO opening of this giant company, only 0.50 times subscription was received in the retail category. High valuations are also believed to be the reason behind retail investors staying away. Apart from this, the gray market position of the company which was weakening every day was becoming a cause of concern for the retail investors. Let us tell you, the price band of Hyundai Motor’s IPO was fixed at Rs 1865 to Rs 1960. The IPO was open for retail investors from October 15 to October 17.
Also read: Investors attacked Waaree Energies IPO, the company has created a ruckus in the gray market.
What was the opinion of the experts?
Most of the experts keeping an eye on Hyundai IPO were of the opinion that it would be right to bet on it for the long term. They also do not expect a very spectacular opening on the day of listing. Let us tell you, after 2003, any car manufacturing company has raised money from the primary market.
The size of Hyundai Motor IPO was Rs 27,870.16 crore. The issue of the company was completely based on offer for sale. Through this IPO, the parent company of Hyundai Motor India has reduced its stake. Let us tell you, the company had raised Rs 8315.28 crore from anchor investors.
(This is not investment advice. The stock market is subject to risks. Before making any investment, please consult verified experts)
