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India's biggest-ever <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, the <keyword id="19908548" type="General" weightage="100" keywordseo="Hyundai-Motor-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motor India" meta.hostid="261" meta.entityid="Hyundai Motor India">Hyundai Motor India</keyword>'s issue worth Rs 27,870.16 crore, is set to list on the <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords" meta.keywordsubtype="org" meta.entityname="BSE" meta.hostid="261" meta.entityid="BSE">BSE</keyword> tomorrow. The offer, open for subscription between October 15th and 17th, largely saw muted demand from retail investors, who subscribed 0.5x to the issue. <br /><br /><keyword id="21713453" type="General" weightage="20" keywordseo="QIBs" source="keywords">QIBs</keyword> (qualified institutional buyers), who made a thumping oversubscription of around 6.97x to the issue, swooped in on the last day to take its total subscription to around 2.37x, or 237%. <br /><br />In the meantime, <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India's <keyword id="19931032" type="General" weightage="20" keywordseo="GMP" source="keywords">GMP</keyword> (grey market premium) also witnessed significant volatility, nosediving heavily before the issue's close. After plunging to a negative Rs 32 on the day of the issue's close, it swung into the green a day after allotment but inched only up to a lowly Rs 5 on October 18th, 2024, i.e., on the day of allotment.<br /><br />As of October 21, 2024, the company's GMP was Rs 67, with the estimated listing price now at Rs 2,027, data from the IPO website Chittorgarh showed. The markets now anticipate a <keyword id="23032457" type="General" weightage="20" keywordseo="listing-day" source="keywords">listing day</keyword> gain of about Rs 3.42% per share. Again, this is a dip from yesterday, when the company's GMP was at Rs 95, meaning that the markets were hoping for listing gains of about 4.85% per share. <br /><br />Hyundai's GMP peaked at Rs 570 on September 27, 2024, post which it continued to decline rapidly. On October 15th, 2024, when the issue opened for subscription, Hyundai Motor India's GMP was Rs 63. On October 17, 2024, i.e., on the day Hyundai's subscription was set to close, the GMP even dipped into negative, slipping beyond 0, indicating potential listing day losses for investors. <br /><br />Remember that GMPs are only indicative and not concrete indicators of the stock's performance on the listing day. As seen in this case, GMPs can swing wildly from day to day and should not be your sole factor in deciding whether you want to invest in a stock. <br /><br />While most experts have recommended subscribing to Hyundai Motor India's issue from a long-term viewpoint, short-term investors are likely to stay more cautious. This is because at a PE (price-to-earnings) valuation of 26x its potential FY25 earnings, Hyundai's PE is higher than even the industry's PE average, which currently stands at 24.41 times.<br /><br />Moreover, the PE of the Indian subsidiary of the South Korean automobile giant is higher than even that of its parent company, which is at 5x. That, combined with weak auto sales projected for the upcoming quarter, i.e., October to December 2024, may take away some sheen from the debut of the stock of the second-largest automobile seller in the country.<br /><br />Per experts at research advisory firm Master Capital Services Ltd, "Hyundai Motor India is the second-largest automobile manufacturer in India, holding a 15% market share. Despite some concerns regarding short-term listing gains due to subdued grey market premium, the company offers steady growth prospects amid industry tailwinds, robust financials and healthy SUV product demand. Hyundai’s leadership in India's passenger vehicle market, along with its strategic focus on electric vehicles, makes a compelling investment for long-term investors."<br /> <br /><br />

Hyundai Motor India to list tomorrow, GMP enters green territory

<ul><li>Shares of <keyword id="2537688" type="General" weightage="20" keywordseo="Uniparts-India" source="Orion">Uniparts India</keyword> listed at ₹575 against the allotment price of ₹577 per share.</li><li>The grey market expected a ₹40 premium per share on listing.</li><li>The market capitalisation of the company stood at ₹2,595 crore.</li><li>The IPO received strong demand from investors as it was subscribed 25.32 times.</li></ul>After listing at a ₹2 discount to its issue price, shares of Uniparts India went further down by 4.5% at around 2 pm, on Monday. The stock is now ₹26 lower than the issue price of ₹577, disappointing investors and the grey markets which predicted that it will make its debut at a ₹40 premium. <br /><br />This is lower than the grey market expectation of ₹40 premium per share. The grey market is an unofficial market where the IPO shares are traded before they are listed on the stock exchanges.<br /><br />Meanwhile, the broader markets also opened lower on Monday following weak global markets and ahead of November’s retail inflation data to be released later in the day. <br /><br />The market capitalisation of Uniparts India stands at ₹2,595 crore, according to BSE data. <br /><br />The IPO saw strong demand from non-institutional and qualified institutional investors as they subscribed 67.14 and 17.86 times respectively. Overall, the IPO was subscribed 25.32 times.<br /><br />This year, 33 IPOs made their stock market debut on the BSE mainboard. All except eight have given positive listing gains. Here are the top five IPOs with highest listing gains in 2022.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest listing gains per share <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Harsha Engineers International <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹155.90 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dreamfolks Services<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹136.65 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Aether Industries <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹134.75 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DCX Systems <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹101.80 <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kaynes Technology<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹103.10<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: BSE</em><br /><br />Uniparts India manufactures critical products and components for the off-highway vehicles (OHV) industry. Specifically, it caters to the agriculture, construction forestry and mining (CFM) and aftermarket sectors.<br /><br />The New Delhi-based company IPO was a complete offer for sale of 14.4 million shares by promoters and shareholders.<br /><br />In its draft filing, Uniparts India noted that the top ten customers contributed to 70.4% of its total revenue in FY22, down from 73% in FY21.<br /><br />The net profit of the company surged 80% in FY22 from the year before.<br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,227 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹167 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹903 crore<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹93 crore <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹907 crore <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹63 crore <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><em>Source: DRHP</em><br /><br /><br /><strong>SEE ALSO: </strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/best-and-worst-performing-ipos-of-2022-in-india/articleshow/96160391.cms">Best and worst performing IPOs of 2022</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/three-ipos-set-to-raise-over-1800-crore-this-week/articleshow/96160133.cms">Three IPOs set to raise over ₹1,800 crore this week</a>

You Searched For "IPO GMPs" and got 3 results

Hyundai Motor India to list tomorrow, GMP enters green territory

Ira Alok Puranik

Uniparts India shares fall deeper into the red after listing at a discount

Bhakti Makwana

Grey market premium – what is it and where is it coming from

Rounak Jain

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