Hyundai IPO listing date today; GMP, experts signal muted debut of shares on BSE, NSE
- Hyundai IPO listing date is today, October 22. Hyundai Motor India shares will be listed on both the stock exchanges, BSE and NSE.
Hyundai IPO Listing: Hyundai Motor India Ltd is set to make its debut in the Indian stock market today as the equity shares of the company will be listed on bourses. After witnessing a muted demand, Hyundai IPO listing date is fixed today, October 22.
The initial public offering (IPO) of Hyundai Motor India Ltd was open from October 15 to October 17 and the IPO allotment was finalized on October 18. The Hyundai IPO listing date is October 22. Hyundai Motor India shares will be listed on both the stock exchanges, BSE and NSE.
“Trading Members of the Exchange are hereby informed that effective from Tuesday, October 22, 2024, the equity shares of Hyundai Motor India Limited shall be listed and admitted to dealings on the Exchange in the list of ‘A’ Group of Securities,” a notice on the BSE said.
Hyundai Motor India shares will be a part of the Special Pre-open Session (SPOS) on Tuesday, October 22, and will be available for trading from 10:00 AM.
Ahead of the share listing, Hyundai IPO GMP today, or grey market premium today, signals a muted trend. Analysts also expect Hyundai Motor India IPO listing to be on a tepid note.
Here’s what Hyundai IPO GMP and experts signal about share listing today:
Hyundai IPO GMP Today
Hyundai Motor India shares are showing a volatile trend in the grey market. Hyundai IPO GMP today is in the range of ₹65 - 70 per share. This indicates that, in the grey market, Hyundai Motor India shares are trading higher by ₹70 than their issue price.
Hyundai Motor India Share Price
Considering the Hyundai IPO GMP today, the estimated Hyundai Motor India share listing price would be in the range of ₹2,025 - 2,030 apiece, a modest premium of 3.5% to the IPO price of ₹1,960 per share.
“Considering sluggish undersubscription demand from NII’s & Retail investors and market sentiments on overvaluation concern followed by lower demand and over supply scenario in the sector, there is a very high possibility of flat to negative market debut,” said Prashanth Tapse, Sr VP Research – Research Analyst at Mehta Equities Ltd.
For allotted investors, one should not expect a quick bucks on listing day, he added.
“Hence, we recommend ‘Hold’ despite knowing short term volatility in the sector demand and supply scenario. For non-allottees, we advise to wait and watch for the price to settle and revisit the space with better discounted opportunity as for long-term investors, Hyundai’s growth story remains intact in line with India Growth,” Tapse said.
Despite being the second-largest player with 14.6% domestic market share in the passenger vehicle market, Hyundai Motor India IPO received a slothful response. While on a consolidated basis, the overall subscription figures look good, but the majority 50% of the offer size received a sluggish response from the Non-Institutional Investors (NII) and Retail Investors which got undersubscribed, he noted.
“We believe the majority of the investor especially NII's & retail stayed back on few reason like concern on over high valuations to peers followed by 100% offer-for-sale (OFS) component without any fresh issue leaving nothing on table for new investors to gain and industry concern on high inventory across the sector and slowing demand in the last ~3-4 months and short term trend still looks dull and weak,” Tapse said.
Shivani Nyati, Head of Wealth, Swastika Investmart Ltd. noted that the current Hyundai IPO grey market premium (GMP) of ₹67 (3.42%) suggests expectations of a flat to moderate listing.
“The IPO valuation seems fully priced, and since the issue is a complete offer for sale (OFS), the company will not receive any proceeds from the offer. While Hyundai Motor India holds a strong market position as the second-largest passenger vehicle company in India, and its strategic focus on SUVs is promising, the overall market sentiment and IPO size may limit listing gains. Investors with a long-term outlook and the ability to navigate potential listing challenges may consider holding onto their investments post-listing for potential future growth,” Nyati said.
In conclusion, Nyati anticipates a steady debut, and while immediate listing gains may be modest, Hyundai’s robust fundamentals make it an attractive long-term investment, she added.
Hyundai IPO Details
Hyundai Motor India IPO opened for subscription on October 15 and closed on October 17. The IPO allotment was finalized on Friday, October 18, and the Hyundai IPO listing date is Tuesday, October 22.
Hyundai IPO price band was set at ₹1,865 to ₹1,960 per share. At the upper-end of the price band, the company raised ₹27,870.16 crore from the IPO, making it India’s biggest IPO. The issue was entirely an offer for sale of 14.22 crore equity shares.
Hyundai IPO was subscribed 2.37 times in total as the issue received bids for 23.63 crore equity shares as against 9.97 crore shares on offer. Retail investors’ portion was booked 50%, while non-institutional investors (NIIs) category was subscribed 60%. The qualified institutional buyers (QIBs) portion saw a subscription of 6.97 times and the employee portion was subscribed 1.74 times.
Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities & Capital Markets, JP Morgan India and Morgan Stanley India Company are the book running lead managers of the Hyundai IPO, while Kfin Technologies is the IPO registrar.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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