hyundai IPO : Hyundai Motor shares will be listed on stock exchanges on Tuesday, October 22. Sale of Hyundai Motor shares through initial public offering ( IPO ), which was the largest in the history of the Indian capital market, raised Rs 27,870.16 crore from the IPO and was purely an offer for sale by its promoters. Considering the size of the IPO, the issue was subscribed 2.27 times, which according to analysts was a successful subscription to the IPO.
He IPO was well received by qualified institutional buyers as the issue reserved for them was counted 6.97 times, the pie reserved for non-institutional investors was counted 0.60 times and the shares reserved for retail investors were counted 0.50 times.
“The current gray market premium (GMP) of Rs 67 (3.42 per cent) suggests expectations of flat to moderate trading. IPO The valuation appears to be fully priced and since the issue is an Offer for Complete Sale (OFS), the company will not receive any benefit from the offer,” said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.
“While Hyundai Motor India maintains a strong market position as India’s second largest passenger vehicle company and its strategic focus on SUVs is promising, the overall market sentiment and IPO Size may limit listing earnings. “Investors with a long-term outlook and the ability to weather potential listing challenges may consider holding onto their investments post-listing for potential future growth,” Nyati said.
Swastika Investmart anticipates a stable debut and, while immediate share price gains may be modest, Hyundai’s strong fundamentals make it an attractive long-term investment bet.
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