Mon Oct 21 11:13:33 UTC 2024: **Hyundai IPO Summary:**

– **IPO Overview:** Hyundai Motor India Limited launched the country’s largest Initial Public Offering (IPO), opening on October 15 and closing on October 17. The allotment was finalized on October 18, with shares set to list on October 22 on BSE and NSE.

– **Investor Response:** Despite a lukewarm response from retail investors, the overall bidding for the IPO was successful.

– **Gray Market Premium (GMP):** The gray market activity for Hyundai shares showed fluctuations. Currently, the GMP is between ₹65-70 per share, indicating that the shares are expected to trade above the issue price.

– **Estimated Listing Price:** Considering the GMP and issue price, shares are anticipated to list between ₹2,025 and ₹2,030, which is about 3.5% higher than the issue price band of ₹1,960.

– **Market Expectations:** Analysts from Master Capital Services express optimism due to Hyundai’s strong market position in the Indian passenger vehicle segment, with a 15% market share. The shares are expected to list at ₹2,035 based on current GMP trends.

– **Long-term Investment Potential:** Despite some concerns regarding short-term gains due to reduced GMP, Hyundai’s stable growth prospects in challenging market conditions and focus on electric vehicles make the IPO a promising option for long-term investors.

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