Hyundai Motor India's IPO, the first by a carmaker since Maruti in 2003, opened today with a price range of Rs 1,865 to Rs 1,960 per share. The company aims to raise Rs 27,856 crore, and while the grey market premium has declined, Hyundai's strong market position and financial performance are expected to attract significant investor interest.
Hyundai Motor India’s highly anticipated initial public offering (IPO) has opened for subscription today, October 15, and will run until October 17. Hyundai is the first carmaker to go public in India since Maruti Suzuki's listing in 2003, making this IPO a historic occasion.
A price range of Rs 1,865 to Rs 1,960 per share has been established for the Hyundai IPO. Including the offer-for-sale of 14.2 crore shares, or a 17.5% interest in the firm, Hyundai hopes to collect Rs 27,856 crore through this IPO.
Hyundai's stock now has a grey market premium (GMP) of Rs 40, which represents a little premium of 2.04% above the issue price. Compared to the Rs 570 GMP saw only two weeks ago, this represents a notable decline. Although the emotion of the grey market is sometimes seen as an early predictor of listing performance, it is crucial to remember that GMP may be erratic and shouldn't be the only consideration when making investment choices.
Subscriptions for the Hyundai IPO will be accepted beginning today and will end on October 17. The IPO is open to retail investors, qualified institutional buyers (QIBs), and non-institutional investors (NIIs). Hyundai's strong market position and financial success are likely to generate a lot of interest from investors in its initial public offering (IPO).
With a 14.6% market share, Hyundai is a major player in the Indian car industry. With a total production capacity of 8.24 lakh units, the company's Chennai manufacturing facilities are now running at above 90% capacity. Hyundai has 13 models in its inventory, and SUVs like the Creta and Venue are essential to the company's success.
With revenue of Rs 17,344 crore and a net profit of Rs 1,489.65 crore for the first quarter of FY24, Hyundai demonstrated strong increase over the prior year. The firm intends to improve its electric vehicle (EV) portfolio, grow its business, and finance other strategic projects with the money raised from the IPO.
Investors can use brokerage platforms or their Demat accounts with net banking to apply for the Hyundai IPO. Investors may submit bids in multiples of the minimum lot size, which is [Number of Shares] shares. The initial public offering (IPO) of Hyundai Motor India offers investors a strong chance to learn more about a major participant in the quickly changing Indian car industry. Hyundai's long-term development potential, especially in the electric car market, makes it an appealing alternative for long-term investors, even though the IPO may not guarantee rapid short-term benefits.