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Hyundai IPO’s Grey Market Premium Plummets to ₹17 On Day 3 – Know The Full Details!

Hyundai Motor India's IPO sees a significant drop in Grey Market Premium to ₹17, showing a modest 0.87% listing gain, reflecting weak investor interest in India's largest IPO.

The Grey Market Premium (GMP) for Hyundai Motor India’s IPO has dropped significantly, standing at just ₹17, indicating a potential 0.87% listing gain at ₹1,977 compared to the IPO price of ₹1,960. This decline in GMP reflects the lukewarm investor sentiment towards the largest IPO in India’s history.

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On its final day, the IPO has seen only 46% subscription. Despite its massive size, Hyundai’s offering hasn’t generated the same excitement as recent public issues, many of which were heavily oversubscribed, leaving investors cautious.

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Qualified Institutional Buyers (QIBs) have subscribed to only 65% of their reserved shares, while Non-Institutional Investors have subscribed 29%. Retail investors have shown limited interest, with 41% subscription, and only the employee portion has been oversubscribed so far.

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Although GMP is not always a reliable predictor of listing day performance, the drop aligns with analysts’ concerns about the IPO’s valuation. The question remains for potential investors: should they subscribe or hold off given the tepid response?

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