Hyundai Motor India shares began trading on October 22 at Rs 1,934, a 1.32% discount to the IPO price of Rs 1,960. The Indian subsidiary of the South Korean automaker saw tepid retail response to the IPO, but strong interest from Qualified Institutional Buyers (QIBs) led to an oversubscription of nearly 700%.
The grey market premium of the company’s IPO, India’s largest ever, has been quite volatile, slipping into the negative territory last week from a high of Rs 570 in the last week of September. The shares on the day of listing had a GMP indicating a 3% premium.
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Source: Moneycontrol
News Desk
