Hyundai Motor India Soars with Largest Indian IPO Despite Market Debut Dip

Hyundai Motor India Ltd's highly anticipated IPO debuted with a dip, dropping nearly 6% from its issue price of Rs 1,960. Despite initial market challenges, Hyundai's solid market position and strategic focus promise potential future growth. The IPO's subscription surpassed expectations, making it the largest in India.

Shares of Hyundai Motor India Ltd, a key player in India's passenger vehicle industry, faced a challenging market debut on Tuesday, trading nearly 6% below its initial issue price of Rs 1,960.

The entry into the BSE started at Rs 1,931, reflecting a slight drop of 1.47%, but despite hitting a high of Rs 1,968.80, the stock closed lower at Rs 1,846.

On the NSE, the shares debuted at Rs 1,934 and later fell by 5.88%, marking a volatile entry despite strong initial interest with the IPO being subscribed 2.37 times.

(With inputs from agencies.)