Hyundai Motor India's shares currently trading at a discount to the issue price of Rs 1,960. The grey market premium (GMP) stands at Rs 1,903, reflecting a -3% premium. If trends persist, the stock is likely to debut negatively on October 22.

Hyundai India's shares in the grey market are now trading at a discount of around Rs 30 against the upper end of the IPO price of Rs 1,960

Hyundai Motor India's IPO, worth $3.3 billion, saw full subscription, driven by strong interest from institutional investors despite retail hesitation over pricing. The IPO, India's largest ever, faced reduced retail participation due to valuation concerns and sluggish industry performance.

The Hyundai IPO came at a time when the best has played out in terms of the stock performance of automobile companies. The issue could have done well if the stock had been priced at a higher discount to industry leader Maruti Suzuki.