Hyundai Shares At Korean Exchange Also Dip As Indian Arm Makes A Bad Start At NSE

Hyundai is one of the biggest names in the global automobile industry, with driving competition in the age of declining European makers and invigorated Chinese car makers.

Hyundai Debuts At Dalal Street

The Korean company's Indian arm, Hyundai Motors India, made its much-anticipated debut at the National Stock Exchange on Tuesday, October 22.

The start was not a fairy tale, as it started with a decline of over 5 per cent, before curbing to under 3 per cent later.

Hyundai Shares In Korea

Interestingly, the shares of Hyundai India's parent company, Hyundai Motors Company, based out of the Korean capital of Seoul also saw their shares listed on the Korean Stock Exchange dip.

The company shares dipped by a consequential 1.05 per cent or KRW (Korean Won), 2,500 in the early half of the trading session.

This took the overall value of the company shares to KRW 2,34,500 per piece.

The shares of the company have not faired well in the past one month either. Hyundai shares have dropped by 5.62 or KRW 14,000.00, just in the past month of trading.

IPO Details

When we look at the developments that transpired during the public offer period, 9.97 crore shares were available for subscription during the Initial Public Offering. In all, 23.63 crore shares were bid on. The issue of one of the largest automakers in the country received 2.37 times as many subscriptions overall.

Out of the 4.94 crore shares reserved for the category, more than 2.49 crore shares of the automaker were applied for by retail individual (RIIS) investors. The retail section's bids were 0.50 times.

The Korean Market

In addition, it is interesting to also note that the Korean markets have also been exhibiting an underwhelming performance.

The Korean index of KOSPI dropped by 1.22 per cent or 31.78 points on Tuesday, taking the overall value of the index to 2,573.14.