The Hyundai Motor IPO is making headlines as the latest Grey Market Premium (GMP) settles at ₹17 as of October 17, 2024, at 6:04 AM. With a fixed price band of ₹1,960.00, this brings the estimated listing price to ₹1,977 (calculated as the cap price plus today’s GMP). This suggests a modest expected percentage gain of 0.87% per share. Investors should be mindful, as the current GMP indicates a downward trend, signaling a need for careful evaluation as the IPO approaches.
Recent GMP Movement
The latest GMP figure of ₹17 follows a series of fluctuations in recent trading sessions. Over the last 21 sessions, the GMP has demonstrated a trend towards the lower side, raising some caution among potential investors. Here’s a closer look at the day-wise GMP trend leading up to today:
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 17-10-2024 Close | ₹1,960.00 | ₹17 | 100/1,500 | ₹1,977 (0.87%) | 17-Oct-2024 6:04 |
| 16-10-2024 | ₹1,960.00 | ₹17 | 100/1,500 | ₹1,977 (0.87%) | 16-Oct-2024 23:29 |
| 15-10-2024 | ₹1,960.00 | ₹63 | 300/4,500 | ₹2,023 (3.21%) | 15-Oct-2024 23:25 |
| 14-10-2024 | ₹1,960.00 | ₹45 | 200/3,000 | ₹2,005 (2.3%) | 14-Oct-2024 23:24 |
| 13-10-2024 | ₹1,960.00 | ₹65 | 300/4,500 | ₹2,025 (3.32%) | 13-Oct-2024 23:23 |
| 11-10-2024 | ₹1,960.00 | ₹75 | 400/6,000 | ₹2,035 (3.83%) | 11-Oct-2024 23:00 |
| 10-10-2024 | ₹1,960.00 | ₹132 | 700/10,500 | ₹2,092 (6.73%) | 10-Oct-2024 23:25 |
| 09-10-2024 | ₹1,960.00 | ₹175 | 900/13,500 | ₹2,135 (8.93%) | 09-Oct-2024 23:23 |
| 08-10-2024 | ₹1,960.00 | ₹147 | 800/12,000 | ₹2,107 (7.5%) | 08-Oct-2024 23:32 |
The fluctuations are evident, with a peak GMP of ₹175 on October 9, gradually tapering down to the current ₹17. This trend may reflect changing investor sentiment and market dynamics.
Key Dates for the Hyundai Motor IPO
For those looking to participate in the IPO, here are the critical dates to remember:
- IPO Open Date: October 15, 2024
- IPO Close Date: October 17, 2024
- Basis of Allotment Finalization: October 18, 2024
- Refund Initiation: October 21, 2024
- Credit of Shares to Demat Account: October 21, 2024
- IPO Listing Date: October 22, 2024
Overview of Hyundai Motor India
Hyundai Motor India Ltd. (HMIL) stands as a subsidiary of the Hyundai Motor Group and is recognized as the third-largest auto original equipment manufacturer (OEM) based on passenger vehicle sales in India. Since its inception, HMIL has sold a staggering 12 million passenger vehicles in the country from 1998 to March 31, 2024. The company has also secured its position as the largest exporter of passenger vehicles from FY 2005 to FY 2024.
With a diverse range of four-wheeler passenger vehicles—including sedans, SUVs, hatchbacks, and electric vehicles—Hyundai currently offers 13 models. As of FY 2024, Hyundai holds a 15% share in the domestic car market, trailing only behind Maruti Suzuki. The company’s manufacturing capabilities are supported by a plant in Chennai, boasting an annual production capacity of 824,000 units as of March 31, 2024. Furthermore, HMIL is expanding its footprint with a new manufacturing plant in Telangana, expected to commence production in the latter half of FY 2026.
Strengths of Hyundai Motor
Hyundai Motor’s strength lies in its well-established position in the automotive sector:
- It is the second-largest auto OEM in India and the largest exporter of passenger vehicles.
- The company offers a diverse lineup of passenger vehicles, including 13 models across different categories.
- Hyundai is renowned for its strong manufacturing capabilities and technological advancements that enable innovative vehicle introductions.
- The company has a comprehensive sales network, featuring 1,366 outlets across 1,031 cities and 1,550 service centers across 962 cities.
Hyundai Motor IPO Objective
It’s important to note that Hyundai Motor will not receive any proceeds from the IPO; instead, all Offer Proceeds will go to the Promoter Selling Shareholder after deducting related expenses and taxes.
Additional Resources
For further assistance and insights, you can explore these valuable links:
- How to Check Hyundai Motor IPO Allotment Status Online
- How to Apply for the Hyundai Motor IPO Through Zerodha
- Hyundai Motor India IPO Review: Should You Apply?
Conclusion
As we approach the Hyundai Motor IPO listing date, the current GMP offers a glimpse into market sentiment and potential outcomes. Investors should carefully monitor the GMP trend and upcoming dates to make informed decisions. With the finalization of allotments just around the corner, it’s an exciting time for both Hyundai and its potential investors. Stay tuned for more updates as we inch closer to the big day!