Hyundai Motor Stock Price :The stock of the country’s biggest IPO Hyundai Motor India has disappointed investors on its debut in the stock market today. Today the company’s stock was listed on BSE at a price of Rs 1931 (Hyundai India IPO Listing). Whereas the IPO price was Rs 1960. In this way, investors have suffered a loss of about 1.50 percent or Rs 29 per share on listing. Hyundai’s IPO was subscribed 2.37 times overall. However, retail investors did not show much interest in it. Experts say that listing may be slow, but for the long term it is a good option.
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What should be the stock strategy on listing?
Shivani Nyati, Head of Wealth, Swastika Investmart, says that Hyundai Motor India Limited’s IPO got a decent subscription of 2.3 times, although this IPO was fully subscribed on its last day. The company’s stock was flat with the current gray market premium (GMP) indicating sluggish listing. Listing gains may also be affected due to overall market sentiment and size of the IPO.
He says that Hyundai Motor India holds a strong market position as the second largest passenger vehicle company in India. Its strategic focus on SUVs is promising. Investors with a long-term outlook and the ability to weather potential listing challenges may consider retaining their investment post-listing for the company’s potential growth in future. Hyundai’s strong fundamentals make it an attractive investment option for the long term.
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Subscription : 237% subscribe
In Hyundai Motor India’s IPO, 50 percent shares were reserved for qualified institutional investors and it was subscribed 6.97 times overall. At the same time, 15 percent share was reserved for non-institutional buyers and this overall is filled 0.60 times. The reserved 35 per cent quota for retail investors has been filled 0.50 times. Whereas the reserve quota for employees is filled 1.74 times. Overall this IPO has been subscribed 2.37 times or 237 percent.
(Disclaimer: The views or advice on shares are given by experts. These are not the personal views of Financial Express. There are risks in the market, so take expert opinion before investing.)