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Hyundai Motor IPO to list today, flat to moderate gains expected
The Morning Standard
|October 22, 2024
Initial public offer part of conditions mandated by RBI during the bank's merger with parent HDFC in July 2023; IPO to be the largest share sale by a non-bank lender
SHARES of India's second-largest carmaker - Hyundai Motor India Ltd (HMIL) - are expected to debut on the domestic stock exchanges with flat to modest listing gain on Tuesday, said multiple analysts after the recently concluded IPO received a lukewarm response from retail investors and non-institutional investors.
The ₹27,870 crore IPO of HMIL, the largest in India's capital market history, was subscribed 2.37 times during the recently concluded three-day bidding process.
This story is from the October 22, 2024 edition of The Morning Standard.
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