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Hyundai India's Rs 27,870 crore IPO was subscribed 20% by the second day. Retail investors led with 29% subscription. The offer is an OFS with all proceeds going to Hyundai Motor Global. Analysts recommend subscribing for long-term gains citing Hyundai's strong brand and growth prospects.
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Dipan Mehta of Elixir Equities recommends long-term investment in Hyundai's IPO due to its strong product profile and EV strategy, though a tepid listing is expected. Reliance is considered weak in the current environment, while export-oriented stocks are not attractive due to mild rupee depreciation. Avenue Supermarts faces challenges from quick commerce innovations.
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The firm aims to secure the new funding as a walkout by more than 30,000 workers enters its second month.
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