Hyundai India launched an early public offering (IPO) in October, raising 27,870 crores, making it the largest IPO in the history of the Indian stock market. The stock is currently trading at an offer price of about 7.7% lower than £1,960.
Weights for Indusind Bank, Zomato, Varun Beverages, Mankind Pharma, Torrent Pharmaceuticals, Dixon Technologies, PB Fintech, Adani Enterprises, and Voltas are increasing in MSCI standard index.
According to Abhilash Pagaria, alternative and quantitative studies in Nuvama, India’s weight in the emerging market (EM) index, currently around 18.8%, is expected to increase to 19% by the adjustment date. This would result in a net passive inflow of between $850 million and $1 billion, primarily led to Hyundai’s inclusion and increased weight in Indusind Bank. Meanwhile, stocks such as Adani Green Energy, Reliance Industries, HDFC Bank, Infosys, ICICI Bank and Bharti Airtel will lose weight.
