Hyundai Share Price Updates: Shares end at ₹1,845 each on NSE, 6% discount on IPO price

Hyundai Share Price Updates: Today marked the debut of Hyundai Motor India Ltd on the Indian stock market. Hyundai’s share price had a tepid debut on the stock exchanges today, Tuesday, October 22nd. In the context of a market decline, the shares fell further and ended the listing day in $$1,845 on NSE, a 6% discount on the IPO price of $$1960, and in $$1,820.40 on BSE, 7.12% discount.

At 10 am IST on NSE, Hyundai’s share price opened at $$1,934 per share, 1.3% lower than the issue price. On BSE, the stock opened at $$1,931 each, a drop of 1.48% in relation to the issue price of $$1960.

Hyundai Motor India Ltd’s IPO underwriting took place from October 15 to 17, and the IPO allotment process was completed on October 18.

An automaker is conducting its first share sale in more than 20 years, which comes after Japanese automaker Maruti Suzuki went public in 2003. The South Korean automaker predicts the share listing will improve its visibility and brand image, as well as offering liquidity and a public market for shares.

Hyundai India Motors’ IPO barely made it past the three-day window due to a lukewarm response from retail investors. India’s biggest IPO was subscribed 2.37 times in the last day, with qualified institutional buyers (QIBs) coming to the rescue as the issue neared its end.

Stay tuned for the latest GMP, listing details, expert opinions and more.