Hyundai Motor India made a subdued entry into the stock market on Tuesday, listing at ₹1,934 per share, a 1.3% drop from its issue price of ₹1,960. This debut positions the company as India’s fifth largest automaker, with a market capitalization of ₹1.53 lakh crore after Maruti Suzuki India Ltd, Mahindra and Mahindra Ltd, Tata Motors Ltd, and Bajaj Auto Ltd.
Also Read: Mazagon Dock Shares Drop over 8% Ahead of Historic Stock Split Discussion; Details Inside
In comparison, Maruti Suzuki India tops the list with a market cap of ₹3.77 lakh crore, followed by Mahindra and Mahindra at ₹3.64 lakh crore, Tata Motors at ₹3.25 lakh crore, and Bajaj Auto at ₹2.93 lakh crore.
Hyundai Motor India shares opened at ₹1,934 on the National Stock Exchange (NSE), reflecting a decline of 1.32% from the issue price, while debuting at ₹1,931 on the BSE, down 1.47%. By 12:08 pm, the stock was trading even lower at ₹1,883.9, down 2.59%, resulting in a market valuation of ₹1,53,468.70 crore.
The IPO of Hyundai Motor India was notably subscribed 2.37 times, primarily driven by institutional investors. This IPO, totaling ₹27,870 crore, is now the largest in India, surpassing LIC’s previous record of ₹21,000 crore.
Hyundai Motor India began its operations in India in 1996 and currently offers 13 vehicle models, including the Creta, Venue, Exter, Aura, and Verna. Meanwhile, in the broader equity market, the NSE NIFTY50 index dipped 0.42% to 24,677, and the BSE SENSEX fell by 270 points to 80,870.
