However, a day before listing on Monday, it has sharply recovered and is now showing a GMP of Rs 95. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Hyundai Motor India IPO: More Details Hyundai Motor India commenced operations in India in 1996 and currently sells 13 models across segments. In its draft papers, Hyundai Motor India said, "Further, our Company expects that listing of the Equity Shares will enhance our visibility and brand image and provide liquidity and a public market for the Equity Shares in India." Hyundai set up its India operations in 1996, starting off with the Santro hatchback, once its most sold car. Hyundai holds India's no.2 carmaker spot, coming in behind Maruti Suzuki. It currently has a roughly 15% share in the country's competitive car market.