Why Hyundai Motor going public tells you a different story
The promoters will be laughing all the way to the bank even as India investors brace for a long ride ahead.
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
The auto major has allotted 4.2 crore equity shares to 225 anchor investors at the issue price of ₹1,960 per share.
Several brokerages including ICICI Direct, Anand Rathi, LKP Securities, and SBI Securities have recommended “Subscribe” with a long-term perspective.
Hyundai Motor India, the country's second-largest car maker, looks to raise ₹27,870 crore at a valuation of ₹1.59 lakh crore.
The three-day IPO of Hyundai Motor India will open for subscription on October 15, while the tentative listing date is October 22, 2024.
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