Hyundai Motor India's mega IPO is going to open next week. This issue is the biggest issue in the country so far. The market has been waiting for this issue for a long time and given its size, it is expected to have an impact on the market. However, if we look at the grey market, the enthusiasm about the issue is cooling down. There are a few days left for the issue to open and the grey market premium has seen a sharp decline of 50 percent.

What are the grey market signals?

The grey market premium on Hyundai Motor India shares has halved in the last one week. According to the platform monitoring GMP, the grey market premium has come down to Rs 170 on October 11. However, on October 4, the premium was Rs 370. That is, now the earnings of less than 10 percent are expected on the day of listing. Let us tell you that there is a constant fluctuation in the grey market signal. The market only takes indications from this that in which direction the investors are inclined towards an unlisted security. What is the advice of experts? According to Mayuresh Joshi, equity research head of William O'Neil, the IPO looks very attractive looking at the valuation, product and pricing. He has advised to subscribe for the IPO. However, he has some concerns looking at the size of the IPO. He said that this IPO is very big and will pull a lot of cash from the market. After this, Swiggy's IPO is in the queue, that is, a large amount of the market, equivalent to about Rs 31 to 32 thousand crore, can come out. What is the information about the issue Hyundai Motor India is trying to raise Rs 27,870 crore through the issue. The IPO will open for subscription on October 15 and investors can invest in the IPO till October 17. It is estimated that the stock will be listed on BSE and NSE on October 22. The price band of Hyundai Motor's IPO has been kept at 1865 to 1960. Investors can apply for at least 7 shares, that is, the application for retail investors will be at least Rs 13,720. About 7.8 lakh shares in the issue have been kept for employees. They have been offered a discount on the issue price. At the same time, 35 percent of the issue has been reserved for retail investors.