Hyundai Motor shares were commanding GMP of ₹75 in the grey market today, estimating listing price to be around ₹2,035, a premium of 3.83% over the IPO price.
The promoters will be laughing all the way to the bank even as India investors brace for a long ride ahead.
QIBs help Hyundai Motor India cross the 100% subscription mark; retail quota subscribed only 44% so far
India's biggest IPO ever receives a tepid response so far as only the employee category subscribed close to 100% on the first day
Hyundai Motor India is seeking a slightly higher premium to Maruti and lower to M&M based on P-E ratio, leaving no room for any healthy listing gain, says analyst.
Hyundai Motor India's IPO will mark the first issue by any automaker since 2003 when India's one of biggest passenger vehicle makers, Maruti Suzuki, launched its IPO
The Indian arm of South Korean automaker Hyundai is expected to file RHP this week and the issue is likely to be launched soon.
The scheme to promote manufacturing of electric passenger cars in India will intensify competition in the industry, says Hyundai Motor India in its DRHP ahead of IPO.
The IPO will see Hyundai Motor India’s South Korean parent dilute its stake.
