Why Hyundai India’s GMP crashed 76% even as market awaits India’s biggest IPO

The GMP for Hyundai India is declining ahead of the IPO opening next week, with shares currently commanding a GMP of approximately Rs 139, reflecting a marginal premium of 7% over the issue price. The IPO consists of a complete OFS of 14.2 crore shares by the Korean parent company, priced between Rs 1,865 and Rs 1,960. At the upper end of this range, Hyundai India is valued at Rs 1.6 lakh crore.

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