Hyundai Motor India IPO 2024 – Live Updates

Hyundai Motor India’s GMP Increases

Hyundai Motor India stocks witnessed a notable increase in their Grey Market Premium (GMP) today. According to reports, Hyundai Motor India’s GMP surged by ₹10, raising the premium to ₹55. This marks a 2.8% improvement from the previous premium of ₹45 reported earlier this morning.

Importance of GMP

The Grey Market Premium reflects the demand and valuation of a company’s shares. The increase in Hyundai Motor India’s GMP highlights the growing confidence of investors and the positive market sentiment towards the company. The current GMP of ₹55 confirms that the demand for the company’s shares remains high, signifying trust in its financial stability and future prospects.

Hyundai Motor India’s Position in the Stock Market

This rise in Hyundai Motor India’s stock demand can be attributed to its recent financial performance and upcoming product launches. The increase in GMP serves as a positive indicator for investors, demonstrating the company’s strong position in the market.

SBI Capital’s Recommendation on Hyundai Motor IPO: A Strong Long-Term Investment

SBI Capital has presented a positive outlook on the upcoming Hyundai Motor India IPO. The renowned brokerage firm highlights the company’s strong brand and its popular models like Creta, Alcazar, Venue, and Verna as major differentiators in the market. Hyundai Motor India’s advanced technology and high export potential further add to its strength, positioning it as a leading player in both domestic and international markets.

Talegaon Plant Expansion and Export Potential

According to SBI Capital, Hyundai Motor India’s production capacity expansion at the Talegaon plant will enable the company to strengthen its foothold in both domestic and export markets. This expansion will not only increase the company’s domestic sales but also boost its export volumes, helping Hyundai maintain its dominance in international markets. The Talegaon plant’s expansion is a key strategic move that will allow the company to elevate its production to the next level.

SBI Capital’s Investment Recommendation

SBI Capital has given a ‘subscribe’ rating to the Hyundai Motor IPO, viewing it as a promising long-term investment. With Hyundai Motor India’s future growth plans, cutting-edge technology, and strong export potential, this IPO offers an attractive option for investors.

Hyundai Motor India’s strategic direction and technological innovations firmly establish it as a leading player in the Indian automobile industry. The company’s future performance, combined with the success of the expanded plant, will keep it in a strong position in the market.

Aditya Birla Money’s Take on Hyundai Motor India IPO:

Aditya Birla Money has issued a report on the Hyundai Motor India IPO. According to their note, “We believe Hyundai’s future remains strong due to its strong parentage. Moreover, the company is expected to benefit from leveraging Hyundai Motor Company’s (HMC) technology and R&D capabilities.”

However, Aditya Birla Money highlighted that at the upper price band, the IPO seems expensive. “At 26x its FY24 EPS, Hyundai’s valuation appears rich, leaving little room for investor profit,” said the brokerage.

Hyundai Motor India IPO Live Updates: Nuvama Wealth Management on IPO

As per the latest updates on the Hyundai Motor India IPO, Nuvama Wealth Management met with Hyundai India’s Managing Director Unsoo Kim, CFO Wangdo Hur, and COO Tarun Garg. During the meeting, the management mentioned that the company is well-positioned to capitalize on the domestic passenger vehicle (PV) sales growth cycle, with a 63% focus on the rapidly expanding utility vehicles (UVs). Additionally, the company is increasing its production capacity from 0.82 million to 1.07 million units to support growth in both domestic and overseas markets. Thirdly, the company’s focus is on expanding its model portfolio, with four electric vehicles (EVs) planned for the next few years. Hyundai is also considering launching some global models in India. Nuvama currently holds no rating on the stock.

Hyundai Motor India IPO 2024 Latest Updates

Hyundai Motor India has opened its IPO for subscription from October 15 to 17, 2024. The company plans to raise approximately ₹27,870.16 crore (about $3.3 billion). Hyundai’s IPO is set to become the largest in India, surpassing the LIC IPO from last year, which raised ₹21,000 crore.

However, the grey market premium (GMP) for this IPO has seen a sharp decline. Initially, it was at a high of ₹570, which has now fallen to ₹60. This significant drop reflects investor concerns about the public issue. Additionally, the price band for the IPO is set between ₹1,865 and ₹1,960 per share.

The shares of Hyundai Motor India will be listed on October 22, 2024. Prior to this, the IPO is expected to be one of Asia’s largest recent IPOs. The face value of the shares is ₹10.

Hyundai Motor India’s IPO aims to raise .3 billion. The current grey market premium is ₹60, indicating less than 2%. The IPO is subscribed at 13%, with listing scheduled for October 22, 2024.