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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 signals of the grey market. The market only takes indication from this as to which direction the investors are inclined towards an unlisted security.
The price band of Hyundai Motor's IPO has been kept at Rs 1865 to Rs 1960. Investors can apply for at least 7 shares, i.e. the application for retail investors will be at least Rs 13,720. About 7.8 lakh shares in the issue have been reserved 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.
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