Puneet Gupta, director at S&P Global Mobility said that investors should not judge the potential of Hyundai India's listing by the price action on the first day of trading.
Shares of Hyundai Motor India, the Indian arm of South Korean billionaire Euisun Chung's car maker Hyundai Motor Company, slumped in its highly anticipated stock market debut in India on Tuesday.
Hyundai Motor's Supernal said on Tuesday it had partnered with a private jet charter firm and a passenger helicopter operator for the development of its air taxi infrastructure.
Shares of Hyundai Motor Co.'s Indian unit fell in Mumbai. The trading debut comes after Hyundai Motor India Ltd.
Kranthi Bathini, director of equity strategy at WealthMills Securities, discusses Hyundai Motor India's IPO launch.
Shares of Hyundai Motor India dropped as much as 6% in their market debut on Tuesday, after a tepid response from retail investors to the pricing of the country's largest initial public offering.
The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees. The shares reportedly got oversubscribed by more than two times, valuing the IPO at 278.56 billion rupees, or $3.3 billion, making it India's largest-ever IPO by the amount raised.
Hyundai Motor Company is undervalued with a strong EPS of $37.47 and a low P/E ratio of 4.59, making it a 'Buy'. Record Q3 sales driven by hybrid and electric vehicles, despite September's dip due to fewer selling days and Labor Day deals. Strategic partnerships and investments in EV and hydrogen tech position Hyundai well for long-term growth amid industry challenges.
The $3.3-billion IPO of Hyundai Motor India , the country's largest yet, was fully subscribed on its final day on Thursday, as big institutional investors bid aggressively, though pricing concerns deterred retail investors.
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.
Axel Maschka, executive vice president at Hyundai Mobis, discusses the pressure from China's growing EV industry and his take on European EV tariffs.
Ringo Choi, Asia-Pacific IPO leader at the accounting company, shares his outlook for initial public offerings in the region.