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India's largest IPO, Hyundai Motor India, trading 13% lower from issue price of ₹1,960; check recent updates
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2 min read | Updated on February 27, 2025, 14:11 IST
SUMMARY
Hyundai Motor India: On October 22, 2024, shares of the company were listed with a discount of over 1% against the issue price of ₹1,960. The stock was listed at ₹1,931, reflecting a decline of 1.47% from the issue price on the BSE. On the NSE, the stock made its debut at ₹1,934, down 1.32%.
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The initial public offering (IPO) of Hyundai Motor India was overall subscribed 2.37 times, helped by institutional buyers. Image: Shutterstock
The stock on Tuesday closed at ₹1,821 on the BSE.
Taking into account today's low (₹1,700), the stock is down 13.2% from its issue price of ₹1960.
On October 22, 2024, shares of the company were listed with a discount of over 1% against the issue price of ₹1,960.
The stock was listed at ₹1,931, reflecting a decline of 1.47% from the issue price on the BSE.
On the NSE, the stock made its debut at ₹1,934, down 1.32%.
The initial public offering (IPO) of Hyundai Motor India was overall subscribed 2.37 times, helped by institutional buyers.
This was the largest IPO in the country, surpassing LIC's initial share sale of ₹21,000 crore.
The ₹27,870 crore initial share sale had a price band of ₹1,865 - ₹1,960 per share.
The IPO was entirely an offer for sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company (HMC), with no fresh issue component.
HMIL commenced operations in India in 1996 and currently sells 13 models across segments.
Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd, J P Morgan India Private Ltd, and Morgan Stanley India Company Private Ltd were the book-running lead managers to the offer.
Other key updates
As per the latest index review by MSCI, Hyundai Motor India Ltd will be added to the MSCI India Index while Adani Green Energy will move out.
The changes in constituents for the MSCI Global Standard Indexes will take place as of the close of February 28, 2025, according to an announcement by index compiler MSCI.
Hyundai Motor India Q3 FY25 Results
Hyundai Motor Company said its consolidated profit after tax (PAT) declined 19% to ₹1,161 crore for the third quarter ended December 31, 2024 (Q3 FY25).
The auto major had reported a PAT of ₹1,425 crore in the October-December period of last fiscal.
Total revenue from operations declined to ₹16,648 crore in the third quarter as against ₹16,875 crore logged in the year-ago period.
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