Hyundai Motor India Ltd made its debut on the Indian stock market today. The company’s IPO was open for subscription from October 15 to October 17, and the allotment of shares was completed on October 18. Hyundai shares are now listed on both BSE and NSE.
This is Hyundai’s first public share sale in over 20 years, following Maruti Suzuki’s public offering in 2003. The South Korean automaker expects that listing its shares will boost its brand visibility and provide better liquidity in the public market.
Despite a slow start, the IPO managed to attract enough interest over the three-day period, thanks mainly to support from institutional investors. By the last day, it was subscribed 2.37 times, although retail investors showed less enthusiasm.
