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Hyundai Motor India among top trending topics on Google search

A spike of 300 per cent has also been witnessed on the topic.

Hyundai will not issue new shares in the IPO which will involve its South Korean parent selling part of its stake in the wholly owned unit to retail and other investors via a so-called "offer for sale" route. (File Photo)

‘Hyundai Motor India share price today’ is among the top trending topics on Google search on Wednesday. As per the trends.google, a day after the Hyundai IPO launch on Tuesday in a week market, the topic still has 5k plus searches in two hours. A spike of 300 per cent has also been witnessed on the topic.

Hyundai Motor India’s shares made a disappointing debut on Tuesday, listing at a 1.5% discount to their issue price of Rs 1,960. The stock opened at Rs 1,931 on the BSE and Rs 1,934 on the NSE, falling short of investor expectations amid ongoing market volatility and concerns about the company’s valuation.

Screengrab of trends.google

India’s largest-ever IPO, Hyundai Motor India, made a lacklustre listing on D-Street. Hyundai IPO’s grey market premium dropped to 2% ahead of listing, with shares trading at a Rs 45-50 premium over the issue price of Rs 1,960. This marks a decline from the earlier 5% peak but a recovery from yesterday’s -3% dip, reflecting shifting investor sentiment.

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Hyundai Motor India’s IPO saw an overall subscription of over 2 times, driven primarily by strong demand from institutional investors. However, the retail and non-institutional categories were under-subscribed, with concerns over high pricing affecting participation.

The Qualified Institutional Buyer (QIB) portion was booked 6.97 times. The non-institutional investor (NII) subscription stood at 60%, while the retail subscription reached 50%. The IPO, consisting of 14.2 crore shares, is a full offer for sale by Hyundai Motor Global.

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