Hyundai Motor India Faces Rocky IPO Debut

Hyundai Motor India's IPO experienced a challenging debut, closing over 7% lower than its issue price of Rs 1,960 on the first trading day. Despite the muted performance, the company's status as India's second-largest passenger vehicle manufacturer and its focus on the SUV segment supports its growth outlook.

Hyundai Motor India Ltd faced a rocky start on the stock market following its initial public offering (IPO). The shares ended more than 7% below their issue price of Rs 1,960, reflecting a challenging debut for the Indian arm of the South Korean automaker.

The stock's listing opened at Rs 1,931 on the BSE, marking a 1.47% decline, and although it made a brief recovery to Rs 1,968.80, it ultimately dropped to Rs 1,820.40 by the day's close. On the NSE, it debuted at Rs 1,934 and closed at Rs 1,845, indicating a 5.86% drop.

However, analysts remain optimistic about Hyundai Motor India's long-term potential. Described as a significant player in the passenger vehicle market with a strategic emphasis on the SUV segment, the company's fundamentals are considered strong despite the IPO's initial performance.

(With inputs from agencies.)