• Business
  • Politics
  • Investing
American Investor Club
World News

Hyundai India shares fall 2% on market debut after record IPO

by October 22, 2024
October 22, 2024

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 ($23) on India’s National Stock Exchange, compared to its issue price of 1,960 rupees ($23.31), and was last trading down 2% at 1,920 rupees ($22.84) at 0431 GMT (12:31 a.m. ET).

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.

The two-biggest IPOs prior to Hyundai India – Life Insurance Corporation and Paytm parent One97 communications – both listed at a steep discount.

While Hyundai’s market valuation is much smaller than Indian market leader Maruti Suzuki’s $48 billion, analysts have expressed concerns over the narrower gap when valued by their price-to-earnings ratios.

The issue had valued Hyundai at 26 times its fiscal 2024 earnings, not far off the 29 times multiple for market leader Maruti.

Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade. The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally.

This post appeared first on cnn.com
previous post
She survived the October 7 terror attack. A year later, she took her life. Her family blames the state for not helping.
next post
Italian surfer dies after being impaled by fish off the coast of Indonesia

You may also like

Mexican president hails first judicial election a ‘complete...

June 3, 2025

Putin didn’t budge in Ukraine peace talks. Now...

June 2, 2025

Inside Ukraine’s audacious drone attack on Russian air...

June 2, 2025

Police to start new search near where toddler...

June 2, 2025

Ukraine’s wily drone strikes expose Russia’s vulnerability and...

June 2, 2025

UK to build new attack submarines and ramp...

June 2, 2025

Russia and Ukraine hold peace talks in shadow...

June 2, 2025

Italy’s Mt. Etna erupts, sending huge plume of...

June 2, 2025

Woman accused of killing in-laws with toxic mushrooms...

June 2, 2025

Ukraine’s drone attack the latest in a series...

June 2, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Name Price24H (%)
    bitcoin
    Bitcoin(BTC)
    $105,708.27
    0.67%
    ethereum
    Ethereum(ETH)
    $2,606.82
    4.22%
    tether
    Tether(USDT)
    $1.00
    0.03%
    ripple
    XRP(XRP)
    $2.20
    1.53%
    binancecoin
    BNB(BNB)
    $669.09
    1.61%
    solana
    Solana(SOL)
    $159.36
    2.05%
    usd-coin
    USDC(USDC)
    $1.00
    -0.01%
    dogecoin
    Dogecoin(DOGE)
    $0.196430
    2.67%
    cardano
    Cardano(ADA)
    $0.70
    2.53%
    staked-ether
    Lido Staked Ether(STETH)
    $2,605.87
    4.30%

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 americaninvestorclub.com | All Rights Reserved


    Back To Top
    American Investor Club
    • Business
    • Politics
    • Investing