Hyundai Motor India was listed at a discount of 1.3% to the issue price on Tuesday.- The company’s shares were listed at ₹1,934 on NSE, against the issue price of ₹1,960.
- This is the sixth
IPO above ₹10,000 crore to list at a discount.
The company's market valuation stood at ₹1,57,807.67 crore during the early trade.
The shares of Hyundai were trading at ₹1,870 on NSE at 10:30, a further decline of 4.5%.
Hyundai raised ₹27,870 crore from the IPO and while non-institutional investors (NII) and retail investors were cautious of the IPO, qualified institutional buyers (QIBs) bet big on the company.
Hyundai had set a price band of ₹1865 to ₹1,960 per share for its IPO. The company’s shares were subscribed 2.37 times.
The
Hyundai continues the trend of big IPOs listing at a discount
Hyundai has continued the trend of big IPOs failing to make a good debut in the primary market. The automaker has become the sixth company, out of seven companies to list at a discount when looking to raise more than ₹10,000 crore.Hyundai in India
The Indian market contributes to around 15% of the company’s global sales and is the third biggest market for the company after the United States and South Korea.The company has already invested around $5 billion in the country and plans to invest an additional $4 billion over the next few years.
This story is developing…
SEE ALSO:
UPI refund to digital arrest scam, here are some online scams you need to be aware of
Waaree Energies to Afcons Infrastructure, IPOs to look out for this week
Best credit cards for online shopping this festive season