Hyundai Motor India shares plunge 7% on debut after country's biggest IPO

Hyundai Motor India shares plunge 7% on debut after country's biggest IPO

FILE PHOTO: The Logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. REUTERS/Amit Dave/File Photo

Hyundai Motor India shares fell 7.2% on their market debut on Tuesday after retail investors gave a lukewarm reception to the country’s biggest ever initial public offering (IPO) amid concerns about a lofty valuation and an auto industry slowdown.