Hyundai IPO Day 3 Live Update: Hyundai Motor India IPO began on Tuesday, October 15 and is set to conclude today, Thursday, October 17. The response to the initial public offering in the Indian stock market over the past two days has not been favourable, but market experts anticipate that the issue will successfully sail through today. Hyundai Motor India IPO price band ranges from ₹1,865 to ₹1,960 per share.
The Hyundai Motor India IPO achieved a 42% subscription on the second day of the subscription period, according to BSE data. Retail investors subscribed to 38% of the portion, while non-institutional investors reached 26%. The qualified institutional buyers (QIBs) portion saw a subscription of 58%. The employee portion was subscribed 1.30 times. On the first day of the bidding process, the Hyundai Motor India IPO saw an 18% subscription, with bids received for 1.77 crore equity shares compared to the 9.97 crore shares on offer, as per NSE data.
Hyundai IPO Day 3 Live: Here’s all you need to know about the company’s directors
Unsoo Kim oversees the overall operations and business of the company as the Managing Director. Tarun Garg serves as the Whole-time Director and Chief Operating Officer, responsible for driving sales, service, dealer management, product strategies, marketing, profitability, customer relationship, brand, and media management.
Gopalakrishnan Chathapuram Sivaramakrishnan leads the overall manufacturing process, strategic planning, resource utilization, and procurement practices as the Whole-time Director and Chief Manufacturing Officer. Wangdo Hur holds the position of Whole-time Director and Chief Financial Officer, and also serves as the business head for finance at the company.
Hyundai IPO Day 3 Live: Arihant Capital has a ‘Subscribefor long term’ rating for the issue
“Hyundai has ensured to maintain stable share market in India historically. It enjoys loyalty among the Indian consumer base owing to smooth and affordable after sales service. Equipped with R&D from Korea and an automated factory in Chennai, company has been able to optimise its operations while expanding it’s distribution. Hyundai also plans to gradually become a major player in the EV segment. Company has also recorded one of the highest RoNW among its peers. We believe the company can take advantage of the growing PV market in India with its diverse offerings,” the brokerage said.
Hyundai IPO Day 3 Live: Here’s what GMP indicates ahead of opening for subscription today
Hyundai Motor India IPO GMP today is +17. This indicates Hyundai Motor India share price was trading at a premium of ₹17 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Hyundai Motor India share price is indicated at ₹1,977 apiece, which is 0.87% higher than the IPO price of ₹1,960.
According to the latest 21 sessions of grey market activities, the current GMP is at ₹17, indicating a downward trend. The lowest GMP recorded is ₹0, and the highest GMP is ₹570, as per the analysis by experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
