Hyundai IPO GMP: Hyundai Motor India's IPO, which opened on Tuesday, October 15, closed on Thursday, October 17. This largest IPO in India with an issue size of Rs 27,870.16 crore did not get a good response at all from small investors. However, the company got a total subscription of 2.37 times on the last day, in which QIB got the largest share. After QIB, the company's employees showed some interest in this IPO. Apart from these two categories, the company's IPO did not get full subscription in any category.
Investors will be allotted shares today
After the closing of the IPO, the allotment of shares will be done today i.e. Friday, October 18. Investors who subscribe for the IPO can be allotted shares any time today. However, experts believe that investors who will be allotted shares may have to suffer losses on listing. In fact, due to poor response from investors after poor fundamentals, no one is buying the company's shares even in the gray market. Now such circumstances have arisen for the IPO of Hyundai Motor India that it will not be able to be listed even at its issue price.
GMP price of Hyundai Motor India shares reached minus
According to a website that tracks the gray market premium of IPO shares, the current GMP price of Hyundai Motor India shares has reached minus. On Friday, October 18, shares of Hyundai Motor India are trading at a discount of -32 rupees. This simply means that Hyundai Motor India's IPO listing may be listed around Rs 1928 instead of its upper price range of Rs 1960. Let us tell you that from October 4 to 6, the GMP of Hyundai Motor India shares was Rs 370. Keep in mind that this is just an estimate and the shares of the company may be listed above or below the price of Rs 1928.
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