Mumbai: Hyundai Motor India shares made their debut with 1 per cent discount on Tuesday. The grey market price had indicated that the Hyundai shares will have a muted debut on the stock exchanges and list with only around 3 per cent gains.
The shares of Indian arm of South Korean automaker Hyundai on Tuesday got listed with a discount of over 1 per cent against the issue price of Rs 1,960. Hyundai shares were listed at Rs 1,931 per equity share on the BSE, compared to the issue price of Rs 1,960. On the NSE, the counter got listed at Rs 1,934, down 1.32 per cent.
The stock listed at Rs 1,931, a decline of 1.47 per cent from the issue price on the BSE. The auto stock made some recovery and hit a high of Rs 1,968.80. However, the counter failed to continue with the gains and again declined 0.74 per cent to trade at Rs 1,945.40.
Hyundai Motor India’s market valuation stood at Rs 1,57,807.67 crore during the early trade today. Hyundai Motor IPO opened for subscription on October 15, 2024 and ended on October 17. The allotment for the IPO was finalised on 18th October. The initial public offer of Hyundai Motor India Ltd received a subscription of 2.37 times on the last day of the bidding. It was was the largest IPO in the country as it surpassed LIC’s initial share sale of Rs 21,000 crore.
Hyundai Motor IPO was a book built issue of Rs 27,870.16 crore, and an entirely an Offer For Sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company (HMC), with no fresh issue component. HMIL commenced operations in India in 1996 and currently sells 13 models across segments.
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Hyundai Motor India shares made debut with 1 percent discount on BSE and NSE on October 22, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
