Brief by Shorts91 Newsdesk / 06:27am on 22 Oct 2024,Tuesday Business
Hyundai Motor India's shares debuted on the stock market at a disappointing 1.5% discount, opening at Rs 1,931 on the BSE and Rs 1,934 on the NSE, below the issue price of Rs 1,960. The company's IPO, worth Rs 27,870 crore, was subscribed 2.37 times, with retail investors showing limited interest, subscribing to only 50% of their allotted shares. Market analysts had anticipated a lackluster debut due to ongoing market volatility and concerns over valuation, especially since the IPO was a complete offer for sale (OFS), meaning Hyundai will not receive any proceeds from the share sale.
