Hyundai IPO sees lukewarm response from investors on Day 1
The initial public offering (IPO) of Hyundai Motor India saw a lukewarm response from investors on Tuesday, with the issue subscribed 0.18 times or 18 per cent on Day 1 of the subscription.
Hyundai Motor India Ltd’s (HMIL) monthly sales rose 26.4 per cent to 61,800 units in February, the automaker said on Monday. In February 2020, the company had sold 48,910 units.
The firm also witnessed a rise in domestic sales by 29 per cent to 51,600 units as against 40,010 units in February 2020, data showed.
Similarly, its exports rose by 14.6 per cent to 10, 200 units in February as compared with 8,900 units in the same month of 2020.
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“The company has been consistently striving to drive a resurgence in sales, thereby contributing towards economic recovery and bringing the industry closer to pre-Covid level sales. With a cumulative sales of 61 800 units in February 2021, Hyundai has recorded growth across segments,” HMIL Director (Sales, Marketing & Service) Tarun Garg said.
He further said that both domestic and export demand have recorded healthy double digit growth last month, reflecting an all-round improvement in buyer sentiment.
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