December 12, 2024 00:30 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Donald Trump vows to eliminate birthright citizenship after taking charge | No alliance with Congress in Delhi polls: AAP chief Arvind Kejriwal | Bengaluru techie's suicide: Atul Subhash's wife and her family booked | Bengaluru techie's suicide: Atul Subhash's wife and her family booked | INDIA bloc to knock on Supreme Court's doors over alleged EVM manipulation during Maharashtra polls | 'Babri Masjid should be rebuilt in Bengal's Murshidabad': TMC MLA Humayun Kabir sparks row | Rajnath Singh calls on Russian Prez Vladimir Putin in Moscow, discusses bilateral defence cooperation | Police to investigate conspiracy angle in Mumbai bus accident that killed 7 | Mamata Banerjee should lead INDIA bloc: Lalu Prasad Yadav | Opposition moves no-confidence motion against VP Jagdeep Dhankar in RS
Hyundai IPO
Image credit: Facebook/NSE India

Hyundai Motor India shares list at 1.32% over IPO price at Rs 1,934 on NSE

| @indiablooms | Oct 22, 2024, at 07:40 pm

Mumbai/IBNS: Hyundai Motor India shares had a subdued debut on Tuesday (Oct. 22), listing at a 1.32 percent discount at Rs 1,934 on the NSE, compared to its IPO price of Rs 1,960.

Despite lukewarm interest from retail investors, the initial share sale saw overwhelming demand from Qualified Institutional Buyers (QIBs), with that segment being oversubscribed by nearly 700 percent, or 6.97 times.

Hyundai’s IPO, the largest in India’s history, faced notable volatility in its grey market premium (GMP).

After peaking at Rs 570 in late September, the GMP plummeted into negative territory last week.

By listing day, the shares were trading at a GMP of Rs 62, indicating a modest premium of nearly 3 percent.

On the BSE, Hyundai Motor India’s stock initially listed at Rs 1,931, a 1.47 percent drop from the issue price.

While it briefly recovered to Rs 1,968.80 (a 0.44 percent rise), the stock later fell again, trading at Rs 1,945.40, down 0.74 percent.

Hyundai Motor India’s market capitalization stood at Rs 1,51,352.03 crore on the NSE.

Its Rs 27,870 crore IPO surpassed LIC’s previous record, making it the largest ever in India, with a price band of Rs 1,865 to Rs 1,960 per share.

Established in 1996, Hyundai Motor India sells 13 models across various segments.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.