Hyundai India drops on listing day after record $3.3b IPO

Hyundai India drops on listing day after record $3.3b IPO

Euisun Chung, Executive Chairman of Hyundai and Chief Executive Officer (CEO) Hyundai Motor Group, rings the bell as Ashishkumar Chauhan, Managing Director and Chief Executive Officer of the National Stock Exchange (NSE) of India and Jaehoon Chang, Chief Executive Officer (CEO) and President of Hyundai Motor Company, watch on during the listing ceremony of Hyundai Motor India Limited at NSE, in Mumbai, India, October 22, 2024. REUTERS/Francis Mascarenhas

Hyundai Motor India’s shares dropped 5% in their market debut on Tuesday, after a tepid response from retail investors to the country’s largest-ever initial public offering over its pricing.