Get ready, folks! The highly anticipated IPO of Hyundai Motor India is set to roll out next week, and it’s got everyone buzzing. Here’s what you need to know before you dive in.
🚀 Hyundai Motor India IPO Details
- IPO Date: Mark your calendars! The public issue opens from October 15 to October 17, 2024. 🗓️
- Price Band: Shares are priced between ₹1865 and ₹1960 per equity share. 💵
- Market Capitalization: The company aims to raise a whopping ₹27,870.16 crore through this offering, which is a 100% Offer for Sale (OFS).
- Lot Size: You can apply in lots, with one lot comprising 7 shares. 📊
- Expected Allotment Date: If you apply, you can expect share allocation on October 18, 2024.
- Listing Date: The shares are expected to hit the market on October 22, 2024. 🎉
📈 Current Grey Market Premium (GMP)
As of today, shares are trading at a premium of ₹74 in the grey market. This is a positive sign, indicating potential investor confidence.
💡 Analyst Opinions: To Apply or Not?
The auto sector is on fire, especially with a shift towards higher-end vehicles. Here’s what the experts are saying:
- Prashanth Tapse, Senior VP — Research at Mehta Equities: “With the Indian market moving from the sub-₹5-7 lac segment to the ₹10-12 lac segment, Hyundai is well-positioned to capture growth. The competition is heating up, especially for Maruti, which is losing market share.”
- Anand Rathi: They give a ‘subscribe’ recommendation, stating that at the upper price band, Hyundai is valuing at 26.2x FY24 earnings, indicating solid growth potential.
- Arihant Capital Markets, Bajaj Capital, and ICICI Direct: All have assigned a ‘subscribe’ tag, suggesting the IPO is worth considering for long-term gains.
Hundai v/s Maruti Suzuki #IPO #IPOAlert pic.twitter.com/yQFTKdEYXj
— Dhananjay Kadam (@dsk4u) October 12, 2024
🔑 Final Thoughts: Apply or Not?
Hyundai Motor India is stepping into the spotlight as a major player in the automotive sector. With its reputation and the shifting dynamics of consumer preferences, this IPO could be a promising opportunity for investors looking for growth in the automotive space. However, as with any investment, it’s crucial to consider your own financial situation and risk tolerance.
Stay tuned as we keep you updated on this exciting IPO and more! 🚗✨