Why Hyundai’s promoters are coming up with the IPO that is largest ever in Indian history?

Ans: to take back home more than $3 billion. This is hundred percent offer for sale issue.
They are not raising any money for expansion or for working capital requirement.
Promoters are simply diluting their stake.

They are raising almost $1 billion from anchor investors and these anchor investors have lock-in period of 30 days for 50% holding and 90 days for rest 50% holding.

So this was the one part of the story.

Next part is that they are bringing the IPO at reasonable PE ratio that is 26, which is the moderate one, not very expensive.

Now in this scenario, when IPO is coming at a reasonable valuation, but this is only an offer for sale, means promoters are coming up with the IPO just to take money home and not for expansion or business need, then there are fair chances that anchor investors would be exiting whenever their lock-in period end.

Shared few important points with you.

Banaras Beads price volume breakout from rounding bottom formation,support 121-115 on dips.Keep an eye

~Volume spurt 6x
~Delivery up 7x

~PE 31 VS 59 Industry
~Debt free Microcap

Nifty took support at short term trendline where as Bank nifty made bullish engulfing at fibo zone

So price action of both are positive today as Nifty saved most crucial 24700 closing basis

#Data also saw short covering by FII today for the first time since last one week,although size of that is small

#Hyundai IPO grey market premium gone. Now in discount😂