The debut may set the tone for a string of other billion-dollar-plus deals coming to the market in India
On Wall Street, both the Dow Jones Industrial Average and S&P 500 closed lower, retreating from record highs as Treasury yields increased.
Hyundai's compatriot LG Electronics Inc. is also reported to be preparing for a potential IPO of its Indian unit
Fees from handling equity share sales hit Rs 3K cr in 2024
Hyundai Motor IPO Allotment: Hyundai India's shares in the grey market are now trading at a discount of around Rs 30 against the upper end of the IPO price of Rs 1,960
Sensex fell below the 81,000 mark. NSE Nifty slipped below 25,000 in trade
In its IPO, Hyundai Motor India Limited (HMIL) is seeking a valuation of 26.3 times its 2023-24 (FY24) earnings, approximately 10 per cent lower than the market leader, Maruti Suzuki India Limited
At 6:30 AM, GIFT Nifty Futures were trading about 49 points lower at 25,069, suggesting a negative start for Indian markets.
Shares of Garuda Construction and Engineering ended with a 12.5 per cent gain on Tuesday
Experts attribute this phenomenon to large IPOs absorbing market liquidity, subsequently weighing on the overall market performance
Over 260 companies in India have raised more than $9 billion through IPOs so far this year, according to LSEG data. That's already higher than the $7.42 billion raised during the same period last year
42.4 mn shares allotted to 225 funds at Rs 1,960 apiece
Hyundai Motor IPO will open on Tuesday, October 15. Ahead of the IPO Mirae Asset has listed some key risks
The carmaker's short-term gains may stall in neutral over high valuations
IPO-bound Hyundai India plans to invest in boosting production capacity, developing new products and platforms, and launching new models
Baillie Gifford and FMR are also looking to participate in the record-breaking offering in Mumbai, the people said, asking not to be identified as the information isn't public