Hyundai Motor India Ltd, the Indian subsidiary of South Korean automotive giant Hyundai, made its market debut on Tuesday with shares listing at a discount of over 1% from the issue price of ₹1,960. The stock opened at ₹1,931 on the Bombay Stock Exchange (BSE), marking a decline of 1.47%. Although it briefly recovered, reaching a high of ₹1,968.80 (up 0.44%), it ultimately fell again to trade at ₹1,945.40, reflecting a 0.74% decrease.
On the National Stock Exchange (NSE), Hyundai’s shares debuted at ₹1,934, down 1.32%. During early trading, the company’s market capitalization stood at ₹1,57,807.67 crore.
Hyundai Motor India’s initial public offering (IPO) garnered significant attention, getting subscribed 2.37 times by the final bidding day. This IPO, valued at ₹27,870 crore, became the largest in the country, surpassing LIC’s earlier record of ₹21,000 crore. The price band for the IPO was set between ₹1,865 and ₹1,960 per share, and it consisted entirely of an Offer For Sale (OFS) of 14,21,94,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component.
Since commencing operations in India in 1996, Hyundai has expanded its offerings to include 13 models across various segments. In the broader equity market, the BSE Sensex rose by 295.97 points to reach 81,447.24, while the NSE Nifty increased by 72.35 points to settle at 24,853.45.
