New Delhi : South Korean motor manufacturer Hyundai Motors has recently launched its IPO in the Indian market. The shares of this company were listed in the market on Tuesday. Hyundai Motors had issued shares at a price of Rs 1,960. Today itself, a decline of more than 1 percent has been seen in comparison to the issue price of this share and these shares of the company have been listed in the market.
The share was listed at Rs 1,931 on BSE, showing a decline of 1.47 per cent over the issue price. Later there was some improvement in the stock and it reached a high level of Rs 1,968.80 with a gain of 0.44 percent. The stock was again down 0.74 per cent and was trading at Rs 1,945.40. The stock opened 1.32 per cent lower at Rs 1,934 on the NSE. The market valuation of the company was Rs 1,57,807.67 crore in early trading.
This much subscription was received
Hyundai Motor India Limited Initial Public Offering i.e. IPO had received 2.37 times subscription till last Thursday, the last day of the offer. The price range of Rs 1,865-1,960 per share was fixed for the Rs 27,870 crore IPO of Hyundai Motor India Limited i.e. HMIL.
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The trend of bad starts continues
This trend has been seen in the stock market for quite some time that the shares of big companies which issue their IPOs often have a bad start. The same has happened with many IPOs launched recently. Something similar happened with Maruti Suzuki of the automobile sector, when their IPO also had a bad start. Often, the IPOs which are expected to perform well are the ones that seem to disappoint investors the most. According to a study, it has been found that out of 30 IPOs launched recently, 10 IPOs have disappointed investors. Names of companies like giant Reliance Power and Paytm are also included in this list.
(with agency input)
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