Hyundai Motor's listing tomorrow, investors' hopes increased due to improvement in the situation in the gray market.

New Delhi, 21 October (Hindustan Reporter). Hyundai Motor India's IPO, the largest in the history of the Indian stock market, is going to be listed on the Bombay Stock Exchange and National Stock Exchange tomorrow. In such a situation, the eyes of IPO investors are fixed on whether they will benefit from the biggest IPO till date or will have to face loss during listing. That means Hyundai Motor India shares will be listed at a premium or at a discount.

Let us tell you that Hyundai Motor India's Rs 27,870.16 crore IPO had received a very lukewarm response from investors for the first two days after its launch. However, due to the huge investment made by Qualified Institutional Buyers (QIBs) on the last day of subscription, this IPO was saved and this IPO was successful in getting more than double the overall subscription. But, even on the last day, 100 percent subscription could not be achieved in the reserve portion for retail investors and non-institutional investors (NIIs).

Even in the gray market, investors have a mixed attitude regarding this IPO. Its bidding in the gray market started with a premiere of Rs 470. In the first 2 days, the premium of Hyundai Motor India shares in the gray market reached Rs 570 per share, but after that the premium of this share started declining. Two days ago, the premium received by Hyundai Motor India in the gray market had fallen below zero level and reached a discount of Rs 32. However, the stock position of Hyundai Motor India improved in the gray market yesterday and today. Today at 5 pm, the premium of the company's shares was Rs 85 in the gray market. If the same trend continues till tomorrow morning, Hyundai Motor India IPO investors can expect listing gains.

Let us tell you that before Hyundai Motor India Limited, Life Insurance Corporation of India (LIC) had brought the country's largest IPO. LIC's IPO worth Rs 21,008.48 crore came in the year 2022. There was a lot of stir in the gray market regarding this IPO, but on the day of listing itself, the company's shares gave a huge blow to the IPO investors. Under the IPO, LIC had issued shares at a price of Rs 949, but its listing on BSE was at the level of Rs 867.20. After the entire day's trading, LIC shares closed at Rs 875.45. In this way, LIC IPO investors suffered a loss of about Rs 75 on the first day itself. This situation also happened when LIC shares were getting good response in the gray market.

In such a situation, if we talk about the shares of Hyundai Motor India, the company's IPO has not only received a lukewarm response from the investors, its position in the gray market has also not been good. Under the IPO, the company's shares have been issued at a price of Rs 1,960. It is being said that due to the high valuation of the share, investors did not show interest in it. In such a situation, if investors are not interested in this share even at the time of listing tomorrow, then this share can be listed at a discount i.e. less than the IPO price.