{"id":3957,"date":"2024-10-22T07:00:59","date_gmt":"2024-10-22T07:00:59","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/22\/hyundai-india-shares-fall-2-on-market-debut-after-record-ipo\/"},"modified":"2024-10-22T07:00:59","modified_gmt":"2024-10-22T07:00:59","slug":"hyundai-india-shares-fall-2-on-market-debut-after-record-ipo","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/22\/hyundai-india-shares-fall-2-on-market-debut-after-record-ipo\/","title":{"rendered":"Hyundai India shares fall 2% on market debut after record IPO"},"content":{"rendered":"<p class=\"paragraph inline-placeholder vossi-paragraph\">            Hyundai Motor India\u2019s\u00a0shares fell 2% in their market debut on Tuesday, after a tepid response from retail investors to the country\u2019s largest ever initial public offering.    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            The stock listed at 1,934 rupees ($23) on India\u2019s National Stock Exchange, compared to its issue price of 1,960 rupees ($23.31), and was last trading down 2% at 1,920 rupees ($22.84) at 0431 GMT (12:31 a.m. ET).    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            Hyundai is India\u2019s No. 2 carmaker with a 15% market share. Its record $3.3 billion IPO was oversubscribed more than two-fold last week, led largely by institutional investors, but pricing concerns deterred retail participation.    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            Tuesday\u2019s listing in Mumbai is Hyundai Motor\u2019s\u00a0first such debut outside its home market of South Korea and comes at a time when India\u2019s equity markets have risen sharply.    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            The two-biggest IPOs prior to Hyundai India \u2013 Life Insurance Corporation\u00a0and Paytm parent One97 communications\u00a0\u2013 both listed at a steep discount.    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            While Hyundai\u2019s market valuation is much smaller than Indian market leader Maruti Suzuki\u2019s\u00a0$48 billion, analysts have expressed concerns over the narrower gap when valued by their price-to-earnings ratios.    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            The issue had valued Hyundai at 26 times its fiscal 2024 earnings, not far off the 29 times multiple for market leader Maruti.    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\">            Hyundai counts India as a crucial growth market where it has two manufacturing units and has invested $5 billion, with commitments to pump in another $4 billion over the next decade. The world\u2019s biggest car market after China and the United States is the company\u2019s third-biggest revenue generator globally.    <\/p>\n<\/p>\n<div>This post appeared first on cnn.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hyundai Motor India\u2019s\u00a0shares fell 2% in their market debut on Tuesday, after a tepid response from retail investors to the country\u2019s largest ever initial public offering. The stock listed at 1,934 rupees ($23) on India\u2019s National Stock Exchange, compared to its issue price of 1,960 rupees ($23.31), and was last trading down 2% at 1,920 [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=3957"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3958"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}