Hyundai Motor India's IPO Debut Falls Short of Expectations

The historic $3.3 billion IPO, the largest in India's history, sees shares drop amid lukewarm retail investor interest.

Hyundai Motor India's shares fell up to 7% on their debut day, closing below the IPO price of 1,960 rupees.
The IPO raised 279 billion rupees, marking it as Asia's largest of the year and the second-biggest globally in 2024.
Retail investors showed limited interest, with institutional buyers largely driving the oversubscription of the offer.
Hyundai India is the country's second-largest carmaker, holding a 15% market share, and plans further investment in the region.
The IPO proceeds will not fund expansion, as the offering was an 'offer for sale' by the parent company, Hyundai Motor.