Hyundai Motor India Limited's shares debuted on the stock market below their issue price, reflecting a decline of 1.5%. The IPO raised Rs 27,870.16 crores through an offer for sale of 14.22 crore shares, with the final issue price settled at Rs 1,960. Despite high expectations and a pricing range between Rs 1,865 and Rs 1,960 per share, Hyundai's share price fell further by 3% after the initial trading.
Hyundai Motor India Limited's IPO Debut: A Deep Dive
Background
Hyundai Motor India Limited (HMIL), a subsidiary of South Korean automaker Hyundai Motor Company, is one of India's leading automobile manufacturers. The company has been operating in India for over two decades and commands a significant market share in the country.
Initial Public Offering (IPO)
On July 7, 2023, HMIL made its much-anticipated debut on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) through an IPO. The company offered 14.22 crore shares for sale at an issue price of Rs 1,960 per share. The IPO raised a total of Rs 27,870.16 crores, making it one of the largest IPOs in India in recent times.
Market Performance
Despite high expectations, HMIL's shares debuted on the stock market below their issue price. The stock opened at Rs 1,935 on the NSE and Rs 1,936 on the BSE, marking a decline of approximately 1.5%. The stock price continued to fall during the initial trading session, closing at Rs 1,900 on the NSE and Rs 1,901 on the BSE, a further decline of 3% from the opening price.
Reasons for the Decline
Analysts attributed the decline in HMIL's share price to several factors, including:
FAQs
1. Why did HMIL's shares decline below their issue price?
2. Is this a short-term trend or a long-term concern for HMIL?
3. How will this IPO affect Hyundai Motor Company?
4. What should investors do with HMIL shares?
5. What are the key risks associated with investing in HMIL?
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