Latest IPO News Today on October 16, 2024: Live Updates and Insights on Hyundai Motor India IPO and More

The IPO market is buzzing with activity as Hyundai Motor India’s IPO, the country’s biggest public issue, has garnered significant attention. On the second day of the IPO, the subscription rate reached 42%, with Qualified Institutional Buyers (QIBs) showing the highest interest. Investors are eagerly watching the latest Grey Market Premium (GMP) to gauge market sentiment.

In a recent study by Capitalmind, it was revealed that 18 out of the top 30 biggest IPOs have failed to outperform the Nifty 500 index. While companies like Zomato have stood out as strong performers, others, including Reliance Power, have struggled to deliver excess returns. Market conditions have played a crucial role in determining the success of recent IPOs.

Meanwhile, concerns have been raised about the structure of the Hyundai IPO, which is a complete Offer for Sale (OFS). This means that the proceeds from the IPO will go to the selling shareholders rather than the company itself. Some critics argue that this practice allows existing shareholders to exit without benefiting the company.

In other IPO news, Lakshya Powertech’s IPO opened on October 16 and saw strong demand, oversubscribed nearly 20 times within hours. The company aims to raise ₹49.91 crore through the IPO.

Looking ahead, Deepak Builders & Engineers Limited has announced an IPO price band of ₹192 to ₹203, with the subscription period set to begin on October 21. Similarly, Waaree Energies IPO has set a price band of ₹1,427 to ₹1,503 per share, with subscription opening on the same day.

Investors and market enthusiasts are closely following these developments in the IPO space, as companies navigate the public markets and investors assess new opportunities for growth and investment. Stay tuned for more updates on the latest IPO news and trends shaping the financial landscape.