Hyundai Motor India shares trade 8.9% below IPO issue price
Business
Hyundai Motor India's stock is trading at ₹1,785, about 8.9% below its issue price of ₹1,960.
It's been a rough ride since the October 2024 debut, with shares falling in six of the last seven sessions and total losses this month of over 19%.
Hyundai IPO retail undersubscribed, analysts optimistic
Even though Hyundai launched India's biggest-ever IPO (over ₹27,000 crore), the retail portion remained undersubscribed, while the IPO was just about fully subscribed overall.
On top of that, global tensions like the U.S.-Iran conflict have pushed up aluminum prices and disrupted supply chains for carmakers.
Despite all this, most analysts still see potential in Hyundai's stock going forward.