New Delhi, October 15: Hyundai IPO subscription is open for all investors for two days. The subscription for the highly anticipated IPO of Hyundai Motors India is introduced with the aim to raise INR 27,856 crore. The Hyundai IPO subscription is open from October 15 (today) and will continue till October 17, 2024. Hyundai Motor India IPO price band has been set between INR 1,865 and INR 1,960 per share. So far the company has received 9% subscription.
The Japanese automobile company is selling INR 14.2 crore shares in India, which represents 17.5 stakes in the company. With the introduction of an initial public offering, Hyundai became the first automobile company to go public in India after listing Maruti Suzuki in 2003. Hyundai’s IPO is open for retail investors, NIIs (non-institutional investors), and QIBs (qualified institutional investors). Reliance Industries Ltd Reports 5% Fall in Net Profit for July-September Quarter As Weak Oil Refining, Petrochem Business Hurt Performance.
Hyundai Grey Market Premium (GMP)
The GMP (grey market premium) for Hyundai’s stock is currently at INR 40, which represents around a 2.04% premium on the issued price. Two weeks before, the GMP was significantly higher than at INR 570. However, GMP, due to its volatile nature, cannot be considered as the only option for making investment decisions.
Hyundai Motor India IPO: Should You Subscribe?
Till October 17, Hyundai aims to attract a large number of investors to its IPO. It currently has a strong foothold in the market with 14.6% of the total automobile market share and boasts a good financial performance with INR 17,344 crore of revenue in FY24. Hyundai Motor India has a production capacity of 8.24 lakh vehicles but is currently working at 90% capacity. All of these show the significant market position and growth of the company that could attract people to Hyundai’s IPO subscription.
Besides, the leading brokerage firms recommended that investors subscribe to the Hyundai Motor IPO due to its great market position and financial performance. Bajaj Broking, SBI Securities, and ICICI Direct advised long-term investors to subscribe to the IPO. Others, including LKP Securities, Master Capital Services Ltd, and Geojit Financial Services, are positive and have urged investors to subscribe to the Hyundai IPO. SpiceJet Settles USD 23.39 Million Dispute With Aircastle and Wilmington Trust SP Services Amid Fresh Insolvency Case.
How to Invest in Hyundai IPO?
Investors can subscribe to Hyundai Motor India’s IPO through Demat accounts via net banking and online stock broker platforms.
(The above story first appeared on LatestLY on Oct 15, 2024 12:53 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
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