The automotive industry is abuzz with speculation over Hyundai’s potential initial public offering (IPO). Known for its innovative vehicle designs, electric vehicle (EV) initiatives and global market presence, Hyundai IPO has piqued the interest of investors around the world.
Hyundai Stocks Today, Hyundai Motors India IPO listing took place today on 22 Nov 2024. Hyundai Motor India shares got listed on NSE and BSE at ₹1,934 and ₹1,931, which is a discount of 1.3% to the issue price of ₹1,960.
At the time of Hyundai Motors India IPO publication, at 10.25 am, Hyundai India stock was trading down by 3.69 per cent at Rs 1,862.70.
Hyundai IPO video link
Hyundai Motor Company’s market valuation on NSE stood at Rs 1,51,352.03 crore.
The Hyundai IPO was India’s largest IPO, which even outperformed LIC’s initial share sale of Rs 21,000 crore. The price band of Hyundai’s initial share sale of Rs 27,870 crore was Rs 1,865-1,960 per share.
Global brokerage firms like Macquarie and Nomura have given buy rating to Hyundai Motor.
After Hyundai IPO listing, the stock fell by 5% while market indices Nifty 50 fell by 1.25% and Sensex fell by 1.15%.
Why Is Hyundai Considering an IPO?
Although Hyundai is already a global automotive giant, it is considering an IPO to raise capital for several strategic reasons:
Expanding EV capabilities: Electric vehicles are no longer a niche market as people increasingly embrace electric vehicles. They are the future of transportation, and automakers that fail to invest in this technology risk being left behind. Hyundai aims to establish itself as a global leader in EV technology, and an IPO could provide the capital needed to accelerate its electric vehicle research, development, and production.
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Automated driving technology: Hyundai is actively investing in autonomous driving technology. Proceeds from an IPO could help Hyundai increase its stake in cutting-edge self-driving technology and partner with companies that specialize in AI and mobility services.
Strengthening its presence in the global market: Although Hyundai is well established in regions such as Asia, North America and Europe, it aims to further strengthen its presence in emerging markets such as India and Africa. The infusion of IPO funds could boost this global expansion.
