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Will Hyundai Motor India's stock close above the IPO price on October 15, 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Closing stock price data from the Bombay Stock Exchange or National Stock Exchange
Story
Hyundai Motor India to Launch $3.3 Billion IPO on October 15, India's Largest Ever, Trading at Rs 38
Oct 14, 2024, 01:39 AM
Hyundai Motor India is set to launch its initial public offering (IPO) on October 15, 2024, aiming to raise approximately $3.3 billion, marking it as the largest IPO in India's history and the second largest globally in 2024. The company plans to allocate Rs 32,000 crore to enhance its production capacity to 1.1 million units. The IPO has already seen significant interest, with BlackRock and GIC among the investors bidding for shares. The grey market premium (GMP) for the IPO has reportedly fallen by over 50% in the week leading up to the launch, currently trading at Rs 38, which is a 1.94% premium over the upper price band set at Rs 1,960. Analysts are expressing mixed sentiments about the offering, with concerns about its high valuation compared to competitors such as Maruti Suzuki. As the IPO approaches, market experts are advising potential investors to consider both opportunities and risks associated with this major listing.
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