Hyundai Motor India Limited will list on the bourses on Tuesday, with the top team from South Korea likely to attend the opening of trading.

Ahead of its debut, the shares of the auto major had rebounded in the grey market and is trading at a slight premium to the issue price.

The ₹27,870-crore IPO was subscribed 2.37 times last week due to support from institutional investors while there was a relatively weak response from retail investors and high net worth individuals.

The IPO had received bids for 23.63 crore shares against 9.97 crore shares on offer. Among the investor categories, qualified institutional buyers (QIBs) bid for 19.72 crore shares that were 6.97 times the shares reserved for them.

The portion reserved for non-institutional investors witnessed 60 per cent subscription whereas that for retail individual investors received 50 per cent subscription.

The IPO came at a price band of ₹1,865-1,960 per share.

While the grey market premium (GMP) had turned negative after the issue closed, as per the latest data from IPOWatch, it is now at ₹90 per share, which denotes a premium of around 5 per cent to the issue price.

It was trading lower by ₹15 to the issue price of ₹1,960 per share on Sunday.

Market sources said Hyundai Motor group executive chairman and CEO Euisun Chung is likely to attend the listing ceremony

Speaking to The Telegraph, Aruj Kejriwal, director, KRIS, an investment consulting firm, said the listing of HMIL will be a huge value unlocking to its parent.

He added that the broad trading range for HMIL post listing could be in the range of ₹-25-+50 against the issue price. ``That ₹-25 could disappear if the stock trades in the positive zone for couple of hours,’’ he said.

Apart from the nearly ₹28,000 crore that Hyundai garnered from the IPO, it has also received nearly ₹16,000 crore in the last six months gross of tax as dividends from the Indian entity.

While HMIL’s capacity in India is now fully utilised, experts add that the topline could jump once the new facility at Talegaon in Maharashtra comes on stream in December 2025.

HMIL commenced operations in India in 1996 and currently, sells 13 models across segments.