Hyundai Motor India IPO Listing Live Updates: Hyundai Motor India shares decline 7.16% to 1,819 on debut, Sensex plunges over 900 points

Hyundai Motor IPO Listing Live: Hyundai Motor India Ltd, the Indian subsidiary of the South Korean automaker Hyundai, made its stock market debut on Tuesday with shares listing at a discount of over 1 per cent compared to the issue price of Rs 1,960. The stock opened at Rs 1,931 on the BSE, representing a 1.47 per cent decline from the issue price. Despite a brief recovery, reaching a high of Rs 1,968.80, the stock eventually settled 0.74 per cent lower at Rs 1,945.40.On the NSE, the stock commenced trading at Rs 1,934, a 1.32 per cent drop from the issue price. During early trade, the company's market capitalization stood at Rs 1,57,807.67 crore.The IPO of Hyundai Motor India Ltd, which concluded on Thursday, received a subscription of 2.37 times, primarily driven by institutional investors. With a price band of Rs 1,865-1,960 per share, the Rs 27,870 crore IPO surpassed LIC's initial share sale of Rs 21,000 crore, making it the largest in the country.The IPO was entirely an Offer For Sale (OFS) of 14,21,94,700 equity shares by the promoter, Hyundai Motor Company (HMC), without any fresh issue component. HMIL, which began its operations in India in 1996, currently offers 13 models across various segments.Meanwhile, the broader equity market witnessed gains, with the BSE Sensex trading 295.97 points higher at 81,447.24 and the NSE Nifty quoting 72.35 points up at 24,853.45.