*Hyundai IPO*
Why should one not apply for this...
Reasons: ๐
a. It is 100% OFS, an offer for sale. Not a single amount of money goes to the company. All money from our pocket is going to the promoter's pocket. And that too in South Korea. So this is a big loot of India.
b. Exorbitant rise in dividend payout to the parent by taking money out of cash reserves just before IPO. It looks like the captain is jumping out of sheep before others.
c. Sharp increase of royalty payment percentage to the parent company also just before IPO.
d. Launching IPO with full of face component at Big Bull market valuations, while automotive market is struggling.
e. Over valued IPO.
f. Hyundai sales are decreasing by 5% in July.
g. Pear companies are undervalued and with lower P/E ratio like Tata Motors.
h. This is a historically big IPO, so supplies are huge. Slow chance of listing gain.
i. It may fall sharp after listing.
j. The Grey market premium is falling dramatically. Still going down.
Think twice before applying ๐