Tue Oct 15 07:14:56 UTC 2024: ## Hyundai Motor India IPO Opens with Modest Grey Market Premium
**New Delhi, India – October 16, 2023** – Hyundai Motor India Limited’s highly anticipated ₹27,870 crore initial public offering (IPO) opened for subscription today. The issue, which consists entirely of an offer for sale (OFS) of 14.2 crore shares by parent company Hyundai Motor Global, will remain open until October 17.
Despite a pre-IPO price of ₹65 per share in the unlisted market, indicating a small 3.3% premium over the IPO price, the grey market premium (GMP) has been steadily declining since the announcement.
Krishna Appala, Senior Research Analyst at Capitalmind Research, noted the softening GMP, suggesting investor sentiment may be cautious. While the IPO’s substantial size has drawn attention, the declining GMP may indicate investors are evaluating the company’s valuation and potential growth prospects.
The IPO’s success will hinge on investor appetite for the company’s shares, considering the current market conditions and global economic uncertainties.
First Piper 