Hyundai Share Price Live Updates: GMP falls ahead of listing
Stay tuned to know about latest GMP, listing details, expert views, more.According to brokerage Master Capital Services, the Hyundai Motor India IPO, which launched on October 15, 2024, is highly anticipated due to the company’s strong market position in the Indian passenger vehicle segment. On 21st Oct, the company’s shares at pre-listing are trading at a grey market premium of ₹75 which is 3.8% higher than its original price band.
Meaning that, the shares might list at ₹2,035 on 22nd Oct.The company offers stable growth prospects among industry tailwinds, strong financials, and sustained demand for SUV products, despite some concerns about short-term listing benefits due to a muted grey market premium. Long-term investors see Hyundai to be an interesting investment due to its strategic focus on electric vehicles and its supremacy in the Indian passenger vehicle industry.The brokerage suggests that continued premiumization will lead to strong growth in quality.
The company has the potential to achieve a 17% compound annual growth rate in earnings from FY25 to FY27.Shivani Nyati pointed out that the current 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.“We anticipate a steady debut, and while immediate listing gains may be modest, Hyundai’s robust fundamentals make it an attractive long-term investment," added Nyati.According to Prashanth Tapse, Research Analyst, Senior Vice President of Research at Mehta Equities, considering sluggish undersubscription demand from NII’s & Retail investors and market sentiments on
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