Hyundai India shares to list today. Will it light up D-Street?
The IPO was booked 2.3 times, with full subscription achieved only on the last day. The valuations are 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,» said Shivani Nyati, Head of Wealth, Swastika Investmart.
«Hyundai Motor India, is the second-largest automobile manufacturer in India, holding a 15% market share. The company’s shares at pre-listing are trading at a GMP of just over 3% higher than its original price band,» said Master Capital Services.
While immediate listing gains may be modest, analysts say Hyundai’s robust fundamentals make it an attractive long-term investment.
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