With days to go for IPO, Hyundai India GMP crashes over 70% from highs
Following the announcement of the price band, the company's GMP is steady at Rs 147 in the grey market. Considering the upper price band of Rs 1,960, the stock is expected to fetch marginal gains of 7% if the current trends are sustained.
The GMP, which was hovering around Rs 570 in the last week of September, fell to Rs 360 last week. The downtrend continued through this week as the grey market price fell below Rs 200.
From the high, the GMP was almost down 72%.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
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