Hyundai IPO Day 3 Live Update: Hyundai Motor India IPO began on Tuesday, October 15 and is set to conclude today, Thursday, October 17. The response to the initial public offering in the Indian stock market over the past two days has not been favourable, but market experts anticipate that the issue will successfully sail through today. Hyundai Motor India IPO price band ranges from ₹1,865 to ₹1,960 per share.
The Hyundai Motor India IPO achieved a 42% subscription on the second day of the subscription period, according to BSE data. Retail investors subscribed to 38% of the portion, while non-institutional investors reached 26%. The qualified institutional buyers (QIBs) portion saw a subscription of 58%. The employee portion was subscribed 1.30 times. On the first day of the bidding process, the Hyundai Motor India IPO saw an 18% subscription, with bids received for 1.77 crore equity shares compared to the 9.97 crore shares on offer, as per NSE data.
Hyundai IPO Day 3 Live: Here’s what GMP indicates ahead of opening for subscription today
Hyundai Motor India IPO GMP today is +17. This indicates Hyundai Motor India share price was trading at a premium of ₹17 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Hyundai Motor India share price is indicated at ₹1,977 apiece, which is 0.87% higher than the IPO price of ₹1,960.
According to the latest 21 sessions of grey market activities, the current GMP is at ₹17, indicating a downward trend. The lowest GMP recorded is ₹0, and the highest GMP is ₹570, as per the analysis by experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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