Hyundai Motor Company has recently celebrated a significant achievement with the IPO of its Indian subsidiary, Hyundai Motor India Ltd (HMIL), demonstrating its dedication to the Indian market.
The Executive Chair, Euisun Chung, highlighted during the listing ceremony that the IPO reflects the crucial role of HMIL in India's automotive industry.
Despite receiving strong support from institutional buyers, HMIL's shares had a lackluster market debut, dropping nearly 6 percent from the issue price of Rs 1,960.
The initial public offering, valued at Rs 27,870 crore, was priced between Rs 1,865 and Rs 1,960 per share and received a subscription rate of 2.37 times on the final day of bidding.