Hyundai Motor India Limited i.e. HMIL's stock is going to be listed on the stock market on October 22. Just a day before the listing, there has been a sharp change in the speculations about the listing. Earlier, there were apprehensions of listing at a discount after the issue closes. However, now once again there are speculations that those who invest in the issue may earn some money on the first day.

What is the grey market estimate?

There has been a sharp fluctuation in the grey market estimates regarding the IPO. The price band of the IPO has been kept from 1865 to 1960 per share. In early September, the grey market was estimating a premium of Rs 570. However, last week there was a possibility of listing at a discount. That is, those who invested money on the listing were likely to suffer losses. However, once again the signals regarding the listing have changed. According to the report of Moneycontrol, a day before the listing, the stock is at a premium of Rs 95 in the grey market. That is, the stock can be listed in the stock market with a gain of 5 percent. This IPO of about Rs 28 thousand crore did not get much response from retail investors. However, with the help of big investors, the issue was oversubscribed more than 2 times. Hyundai is about 80 years old, the company started in the year 1946 as a car repair shop. In 1950, this repair shop turned into Hyundai Engineering. Initially, the company was into construction of highways and bridges. Later, the company's focus shifted to the auto sector. Hyundai Car Company was formed in 1967, which introduced its first car just a year later. The car Pony introduced in 1975 gave the company its identity. In 1996, the company entered the Indian market and launched its first car Santro in 1998. In the financial year 2019, the company's market share was 16.1 percent, which is currently at 14.6 percent. During this period, Maruti's market share has also decreased from 51 percent to 42 percent. During this period, the market share of Tata M&M and Kia has increased.