Wed Oct 23 15:51:52 UTC 2024: **Hyundai Motor India IPO Listing Summary:**

1. **Debut Performance**: Hyundai Motor India’s shares made a disappointing debut on the stock market, closing at Rs 1,820.40, which is approximately 7.1% lower than the issue price of Rs 1,960.

2. **Opening and Trading**: The stock opened at Rs 1,931 on the BSE and Rs 1,934 on the NSE, both below the issue price. It briefly rose but then fell significantly throughout the trading day, hitting an intraday low of Rs 1,807.05.

3. **IPO Details**: The IPO raised $3.3 billion, making it India’s largest-ever IPO and the world’s second-largest in 2024, aiming for a valuation of $19 billion for Hyundai Motor India’s operations.

4. **Subscription Insight**: The IPO was oversubscribed over two times, primarily due to strong interest from institutional investors. However, retail investor participation was lackluster, with only 50% of the portion reserved for them being subscribed.

5. **Market Context**: The stock market opened on a subdued note overall, reflecting weak global sentiment. Despite the ongoing IPO frenzy in India, retail investors showed concerns about the pricing and potential returns.

6. **Executive Remarks**: Euisun Chung, executive chair of Hyundai Motor Group, stated the IPO signifies their commitment to India, highlighting their journey in the country since 1996.

7. **Technical Market Factors**: The broader market context indicated mixed performances among other stocks and sectors, suggesting a cautious investment environment amidst ongoing volatility. Reports mentioned selling by foreign institutional investors (FIIs) and selective buying by domestic institutional investors (DIIs).

8. **Key Statistics**: Shares dipped nearly 6% shortly after listing, and by the end of the first day, the market capitalization was about Rs 1.51 trillion ($17.96 billion).

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