Hyundai Motor India shares jump 6%

Shares of newly-listed Hyundai Motor India Limited, the Indian limb of South Korean automaker Hyundai, jumped 6% connected Wednesday (October 23, 2024), a time aft making the marketplace debut.

The banal climbed 5.91% to ₹1,928.15 from the erstwhile adjacent connected the BSE. At the NSE, the banal surged 6% to ₹1,928.90. Shares of Hyundai Motor India Limited connected Tuesday (October 22, 2024) made a muted marketplace debut and ended much than 7% lower against the contented terms of ₹1,960.

Hyundai Motor India debuts astatine BSE astatine a discount of 1.48%, falls astir 6% station listing

The Initial Public Offer (IPO) of Hyundai Motor India Limited got subscribed 2.37 times connected the past time of the bidding, helped by organization buyers. This was the biggest IPO successful the country, surpassing LIC's archetypal stock merchantability of ₹21,000 crore. The ₹27,870 crore archetypal stock merchantability had a terms set of ₹1,865-1,960 per share.

This was the archetypal first stock merchantability by an automaker successful implicit 2 decades, pursuing Japanese carmaker Maruti Suzuki's listing successful 2003. The IPO was wholly an Offer For Sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company (HMC), with nary caller contented component. HMIL commenced operations successful India successful 1996 and presently sells 13 models crossed segments.

Published - October 23, 2024 12:43 p.m. IST