Hyundai Motor India shares launched on the NSE at Rs 1,934, showcasing a 1.32% discount to its IPO price of Rs 1,960. The IPO, the largest in India's history, captivated institutional buyers despite a lackluster retail response.
Hyundai Motor India's IPO has netted a staggering ₹493 crore in fees for investment bankers, marking it as the biggest in India’s history. Initially, it was a bit muted, but institutional investors jumped in, pushing the final subscription to 2.37x. So far this year, bankers have pulled in ₹2,100 crore from IPOs, a massive leap from last year’s earnings.
Hyundai Motor India is kicking off its massive ₹27,870-crore IPO today, making it the biggest in India’s primary market history. The offer includes 14.22 crore shares priced between ₹1,865 and ₹1,960. With significant backing from global firms and local funds, the buzz around Hyundai's future in India is strong.