Hyundai Motor India shares slip to Rs 1,745, down over 10 pc of IPO price
Shares of Hyundai Motor India, that were listed at Rs 1,931 apiece, have slipped more than 10 per cent from its IPO price.
The initial public offering (IPO) of RailTel Corporation was fully subscribed on Tuesday, the first day of the offering. The issue had received bids for 16.13 crore shares.
The Secretary for the Department of Investment and Public Asset Management (DIPAM), Tuhin Kanta Pandey in a tweet said that similar demand is expected from the high networth individuals (HNI) and qualified institutional buyers.
“Strong demand from retail investors led to full subscription of RailTel IPO within the first few hours on day 1. Similar demand expected from HNI and QIB investors on day 2 & 3,” he said on Tuesday.
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The total size of the offer is Rs 819.24 cr at the upper price band of Rs. 94 per share.
The offer comprises 87,153,369 equity shares of face value of Rs 10 each and is a complete offer for sale by the Government of India and the company will not be directly receiving any proceeds from the same. The minimum bid lot is 155 equity shares, thereafter in multiples.
The price band has been fixed at Rs 93-94 per equity share.
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