Hyundai Motor India IPO Listing Live Updates: Hyundai Motor India shares decline 7.16% to 1,819 on debut, Sensex plunges over 900 points

Hyundai Motor India shares settled 7.6% lower than its issue price on its market debut after a tepid response from retail investors to the country's largest initial public offering on concerns the price was set too high and an auto industry slowdown.

The stock listed at 1,934 rupees on the National Stock Exchange, below its offer price of 1,960 rupees.

Hyundai, India's No. 2 carmaker with a market share of 15%, was targeting a valuation of $19 billion through the IPO.

Hyundai Motor had a lacklustre Indian market debut on Tuesday after raising $3.3 billion in the country's biggest-ever initial public offering, with shares down nearly five percent from their issue price in early trade.

A booming stock market in the world's fifth-largest economy has stoked an IPO frenzy over the last two years, with start-ups and established companies alike scooping up billions of dollars from investors.

The IPO had valued Hyundai's India unit, the country's second-largest car maker by sales, at about $19 billion, with the South Korean parent firm putting up a 17.5 percent stake for purchase.

Shares of the automaker fell in the first morning of trade to 1,870 rupees ($22.34), down more than 4.5 percent from their issue price of 1,960 rupees.

"Our journey in India began in 1996... and now, 28 years later, we are going public by launching India's largest IPO in history," Hyundai Motor Group executive chair Euisun Chung said at the listing ceremony in Mumbai.

"From the beginning, we knew that India was the future," he added. "Today's IPO... demonstrates our commitment to this great nation."

While shares in Hyundai Motor India's IPO were oversubscribed more than two times, retail investors snapped up only half the tranche reserved for them.

The stock market opened on a subdued note on Tuesday, reflecting weak global sentiment and carrying forward the impact of Monday's drop.

The benchmark indices saw a marginal rise at the opening, with the Sensex gaining 183.87 points to start at 81,335.14, while the Nifty inched up by 31.55 points to open at 24,812.65.

At the start of the trading session, Nifty showed a mixed trend, with 22 companies advancing and 27 declining. Leading the gains were Shriram Finance, Tech Mahindra, ICICI Bank, HCL Technologies, and Nestle India.

On the downside, Tata Steel, Bharat Electronics Limited (BEL), Mahindra & Mahindra (M&M), Tata Motors, and Bharat Petroleum Corporation Limited (BPCL) emerged as the top losers, indicating a cautious approach by investors.

Ajay Bagga, a banking and market expert, weighed in on the current market environment, drawing insights from a recent study of global asset management trends.

He noted that while the S&P 500 saw an annualized growth rate of 13 per cent over the last decade, the profitability of major global asset managers such as BlackRock, State Street, JPMorgan, and Goldman Sachs has declined. Their profits in 2023 dropped to 8.2 basis points of assets under management, down from 10.1 basis points in 2021.

Hyundai Motor India's shares dropped 5% in their market debut on Tuesday, after a tepid response from retail investors to the country's largest ever initial public offering over its pricing.

The stock listed at 1,934 rupees on the National Stock Exchange, compared to its offer price of 1,960 rupees, and was last trading at 1,860 rupees at 0502 GMT, giving the company a valuation of 1.51 trillion rupees ($17.96 billion).

Hyundai, India's No. 2 carmaker with a 15% market share, was targeting a valuation of $19 billion through the IPO.

Its record $3.3 billion IPO was oversubscribed more than two-fold last week, led largely by institutional investors, but pricing concerns deterred participation by retail investors who worried they would not be able to make gains on the listing.

Hyundai Motor India Limited (HMIL) experienced a disappointing debut on the stock market on Tuesday, with shares listing below their issue price.

The stock opened at Rs 1,931 on the Bombay Stock Exchange (BSE), lower than the issue price of Rs 1,960, reflecting a decline of 1.5 per cent. On the National Stock Exchange (NSE), shares listed at Rs 1,934. Following the initial trading, Hyundai's share price further fell 3 per cent.

The initial public offering (IPO) of India's largest IPO Hyundai Motor India raised Rs 27,870.16 crores through an offer for sale of 14.22 crore shares.

The IPO's pricing range was set between Rs 1,865 and Rs 1,960 per share, with the final issue price settled at the higher end of the band, Rs 1,960. The subscription period for the IPO was open from October 15 to October 17.

Hyundai Motor India's shares were allotted to successful bidders on October 18, followed by credit to demat accounts on October 21. The company's shares began trading on October 22, 2024, across both BSE and NSE.

Paytm reported its first-ever quarterly profit since listing, helped by a one-time gain from the sale of its entertainment ticketing business to Zomato.
The company posted a consolidated net profit of 9.28 billion rupees ($110.38 million) in the latest quarter, compared with the record 8.39-billion-rupee loss in the previous quarter.

Paytm recorded a one-time gain of 13.45 billion rupees related to the ticketing business sale.

Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, on Tuesday listed with a discount of over 1 per cent against the issue price of Rs 1,960. The stock listed at Rs 1,931, reflecting a decline of 1.47 per cent from the issue price on the BSE. Later, the stock made some recovery and hit a high of Rs 1,968.80, up 0.44 per cent. But, the stock again declined 0.74 per cent to trade at Rs 1,945.40.

On the NSE, the stock made its debut at Rs 1,934, down 1.32 per cent.

The company's market valuation stood at Rs 1,57,807.67 crore during the early trade.

The initial public offer of Hyundai Motor India Ltd got subscribed 2.37 times on the last day of the bidding on Thursday, helped by institutional buyers.

This was the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore.

The Rs 27,870 crore initial share sale had a price band of Rs 1,865-1,960 per share.

The initial public offer (IPO) was entirely an Offer For Sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company (HMC), with no fresh issue component.

Hyundai Motor India's shares fell 2% in their market debut on Tuesday, after a tepid response from retail investors to the country's largest ever initial public offering.

The stock listed at 1,934 rupees on the National Stock Exchange, compared to its issue price of 1,960 rupees, and was last trading down 2% at 1,920 rupees at 0431 GMT.

Hyundai is India's No. 2 carmaker with a 15% market share. Its record $3.3 billion IPO was oversubscribed more than two-fold last week, led largely by institutional investors, but pricing concerns deterred retail participation.

Tuesday's listing in Mumbai is Hyundai Motor's first such debut outside its home market of South Korea and comes at a time when India's equity markets have risen sharply.

Hyundai Motor India stocks have slipped around 5 per cent post listing on NSE.

Hyundai Motor India made its debut on Tuesday at Rs 1,934 on NSE, Rs 1,931 on BSE.

The stock market opened on a subdued note on Tuesday, reflecting weak global sentiment and carrying forward the impact of Monday's drop.
The benchmark indices saw a marginal rise at the opening, with the Sensex gaining 183.87 points to start at 81,335.14, while the Nifty inched up by 31.55 points to open at 24,812.65.

At the start of the trading session, Nifty showed a mixed trend, with 22 companies advancing and 27 declining. Leading the gains were Shriram Finance, Tech Mahindra, ICICI Bank, HCL Technologies, and Nestle India.

On the downside, Tata Steel, Bharat Electronics Limited (BEL), Mahindra & Mahindra (M&M), Tata Motors, and Bharat Petroleum Corporation Limited (BPCL) emerged as the top losers, indicating a cautious approach by investors.

Ajay Bagga, a banking and market expert, weighed in on the current market environment, drawing insights from a recent study of global asset management trends.

He noted that while the S&P 500 saw an annualized growth rate of 13 per cent over the last decade, the profitability of major global asset managers such as BlackRock, State Street, JPMorgan, and Goldman Sachs has declined. Their profits in 2023 dropped to 8.2 basis points of assets under management, down from 10.1 basis points in 2021.

Hyundai Motor India's shares debuted 1.3% lower in pre-open trade on Tuesday after a tepid response from retail investors to its record $3.3 billion initial public offering.

The stock listed at 1,934 rupees on the National Stock Exchange, compared to its issue price of 1,960 rupees.

Hyundai is India's No. 2 carmaker with a 15% market share. Its IPO was subscribed more than twice last week, led largely by institutional investors, with pricing concerns having deterred retail participation.

Indian stock market indices faced selling pressure at the opening, with both indices opening with a marginal dip on Wednesday.

The Nifty 50 index opened at 25,008.55 points, down by 48.80 points or 0.19 per cent, while the BSE Sensex lost 173 points or 0.21 per cent, opening at 81,646 points during the opening session.

Experts highlighted that the continuous selling by FIIs is being supported by buying from domestic investors, and it may consolidate the Nifty index around 25,000.

"In India the main driver of the bull run has been the sustained domestic flows into the market which has been absorbing all the selling by FIIs. The domestic flows will continue to support the market but elevated valuations will put a cap on the upside. Nifty is likely to consolidate around 25000 levels. Q2 earnings will be weak except in IT, banking and pockets of autos." said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

In the sectoral indices on the National Stock Exchange, except for Nifty Pharma, Nifty Realty, and Nifty Consumer Durables, all other indices opened in the negative.

In the Nifty 50 stocks list, 17 shares opened with gains, 31 shares opened with declines, and 2 remained unchanged.

"Markets will continue to be sluggish with a downward bias as global investors move funds to China. The overhang of the Hyundai IPO will also persist for a few days. The results of Reliance Industries will also add some pressure to leading indices." said Shriram Subramanian, Founder and MD, InGovern Research Services.

In other Asian markets, the stock markets showed a mixed response, with Japan's Nikkei falling by more than 2 per cent, while Hong Kong's Hang Seng was up marginally by 0.4 per cent. South Korea's KOSPI index was also down by 0.5 per cent, and Taiwan's Weighted index was down by 0.6 per cent at the time of filing this report.

Equity market benchmark indices rebounded in early trade on Tuesday amid buying in blue-chip stocks and persistent fund inflows by domestic institutional investors. After falling in the previous trade, the BSE Sensex bounced back and climbed 239.33 points to 81,390.60 in early trade. The NSE Nifty went up by 72.95 points to 24,854.05.

From the 30 Sensex pack, UltraTech Cement, Titan, Infosys, ICICI Bank, Power Grid, Tech Mahindra, Nestle and Bajaj Finserv were among the biggest gainers.

Tata Steel, Kotak Mahindra Bank, Tata Motors and NTPC were among the laggards.

Domestic Institutional Investors (DIIs) bought equities worth Rs 3,225.91 crore on Monday, according to exchange data. However, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,261.83 crore

In Asian markets, Shanghai and Hong Kong quoted higher while Seoul and Tokyo were trading lower.

The US markets ended on a mixed note on Monday.

Global oil benchmark Brent crude dipped 0.24 per cent to USD 74.11 a barrel.

The BSE benchmark declined 73.48 points or 0.09 per cent to settle at 81,151.27 on Monday. The Nifty dipped 72.95 points or 0.29 per cent to 24,781.10.

Indian shares opened little changed on Tuesday, with lacklustre earnings and sustained foreign selling weighing on markets, while caution over the escalating Middle East conflict dragged global equities lower overnight.

The NSE Nifty 50 opened 0.07% higher at 24,798.65 points as of 9:20 a.m. IST, while the BSE Sensex was up 0.1% at 81,253 points.

Seven of the 13 major sectoral indexes declined at the open, but the losses were marginal.

The broader, more domestically focussed small-caps mid-caps fell 1% and 0.3%, respectively.

India's No. 2 carmaker Hyundai Motor India will be in focus as it makes its stock market debut.

The $3.3 billion initial public offering, at an issue price of 1,960 rupees, was oversubscribed by more than two times last week.

Among individual stocks, Bajaj Housing Finance rose 2%. The country's most valuable home loan financier reported a rise in second-quarter profit on strong credit demand.

Hyundai Motor India's $3.3-billion initial public offering was oversubscribed by more than two times on Thursday attracting aggressive bidding from institutional investors, even though pricing concerns deterred retail participation.

Hyundai Motor's first listing outside South Korea is India's largest and the world's second-largest IPO of 2024, and comes as companies rush to go public after a run-up in the Indian equities market this year.

The share sale drew bids worth $5.51 billion at close of bidding at 5.57 pm IST (1227 GMT), exchange data showed, 2.37 times the shares on offer.

Institutions, including foreign investors, bid nearly seven times the shares reserved for them, but the retail portion was subscribed just 50%. Oversubscription is a reflection of demand, and there is no provision to allot more shares than those on offer.

Hyundai Motor India HYUN.NS $3.3 billion initial public offering was fully subscribed on the final day of bidding on Thursday, as domestic banks and mutual funds bought into the country's first automaker to go public in two decades.

Bidding in the carmaker's share sale, India's biggest ever and the world's second-largest IPO this year, opened on Tuesday and ends Thursday.

Hyundai India's $3.3 billion IPO was subscribed in 42% on the second day of bidding on Wednesday, led mostly by employees, who were offered shares at a discount and already oversubscribed their part of the offer.

The IPO was subscribed 18% when it opened for bidding on Tuesday. There is still one day of bidding to go.

Its shares will debut on the stock markets on Oct. 22.

The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, got fully subscribed on the third day of the bidding on Thursday. The Rs 27,870 crore initial share sale got bids for 14,07,68,187 shares against 9,97,69,810 shares on offer, translating into 1.41 times subscription, as per NSE data till 13:21 hours.

The quota for Qualified Institutional Buyers (QIBs) got 3.88 times subscription while the portion meant for Retail Individual Investors (RIIs) received 44 per cent subscription. The non-institutional investors part fetched 39 per cent subscription.

Hyundai Motor India Ltd (HMIL) on Monday raised Rs 8,315 crore from anchor investors.

This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore.

The IPO is entirely an offer for sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company (HMC), with no fresh issue component.

This is the first initial share sale by an automaker in over two decades, following Japanese carmaker Maruti Suzuki's listing in 2003. The South Korean parent is diluting some of the stake through the OFS route.

Since the public issue is completely an OFS, Hyundai Motor India Ltd, the second largest carmaker in India after Maruti Suzuki, will not receive any proceeds from the IPO.

HMIL stated that it expects that the listing of the equity shares will enhance its visibility and brand image, and provide liquidity and a public market for the shares.

At the upper end of the price band, the IPO size has been pegged at Rs 27,870 crore (USD 3.3 billion), and the company's market valuation at around Rs 1.6 lakh crore (about USD 19 billion) post-issue.

HMIL commenced operations in India in 1996 and currently, sells 13 models across segments.

Kotak Mahindra Capital Company Ltd, Citigroup Global Markets India Private Ltd, HSBC Securities and Capital Markets (India) Private Ltd, J P Morgan India Private Ltd and Morgan Stanley India Company Private Ltd are the book-running lead managers to the offer.

The IPO has a price band of Rs 1,865-1,960 per share and it concluded on Thursday.

The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received 42 per cent subscription on the second day of bidding on Wednesday. The Rs 27,870 crore initial share sale got bids for 4,17,21,442 shares against 9,97,69,810 shares on offer, as per NSE data.

The category for Qualified Institutional Buyers (QIBs) gained 58 per cent subscription while the portion meant for Retail Individual Investors (RIIs) fetched 38 per cent subscription. Non-institutional investors booked 26 per cent subscription.

Hyundai Motor India Ltd (HMIL) on Monday raised Rs 8,315 crore from anchor investors.

This is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore.

Hyundai Motor India is set to price its shares at 1,960 rupees to raise $3.3 billion in its initial public offering, according to two sources with direct knowledge of the matter.

That price is at the top of the 1,865 rupees to 1,960 rupees range flagged to investors when the deal was launched.

Hyundai India is selling 142.2 million shares, according to the company's filings, which will make it the largest IPO ever in India by the amount raised.

The Indian subsidiary of South Korean automotive giant Hyundai Motor is set to make its stock market debut today. Shares of Hyundai Motor India are set to start trading on the Indian stock market on Tuesday, following last week's $3.3 billion IPO subscription process.

It marks Hyundai Motor's first listing outside South Korea and the largest IPO in the history of the Indian stock market, surpassing the previous record set by the Life Insurance Corporation of India (LIC) in 2022, which then raised $2.5 billion.

The IPO price band has been fixed at Rs 1,865-Rs 1,960 per share. The IPO is a pure offer for sale (OFS) and the entire proceeds will go to the promoter.

India serves as a key global production base for the Korean automotive giant. Last year, Hyundai produced 765,000 vehicles in India, reports Yonhap news agency.