Hyundai Motor India IPO: Check latest GMP, analyst views, issue details ahead of opening on October 15

Hyundai Motor India's IPO is set to open on October 15, 2024, and close on October 17, with a price band of ?1,865 to ?1,960 per share. The IPO comprises an offer-for-sale of 14.2 crore shares by the promoter, without any fresh issue. The grey market premium (GMP) currently stands at ?165, indicating a possible listing price of ?2,125, an 8.42% premium over the IPO price.

However, Aequitas Investments raised concerns about the valuation and sector challenges, suggesting the IPO may not be as appealing for Indian investors due to global auto industry headwinds and a potential slowdown in India. Despite contributing only 6.5% of global revenues, Hyundai's Indian unit is expected to be valued at 42% of the parent company's market capitalization.

Nuvama Institutional Equities projects Hyundai India's FY27 P/E at 24x, assuming modest earnings growth, considering factors like increased royalty payments and reduced other income from a large dividend payout in early 2024.