IPO shows HMIL’s commitment to India: Hyundai chief

Mumbai:South Korean auto major Hyundai Motor Company is taking the next big step with the IPO of its Indian arm which shows its commitment to the country, Hyundai Motor Group Executive chair Euisun Chung said on Tuesday. Speaking at the listing ceremony of Hyundai Motor India Ltd (HMIL) here, Chung also said that the IPO also shows HMIL is a key part of India.

Shares of Hyundai Motor India Ltd made a muted market debut and further fell by nearly 6 per cent against the issue price of Rs 1,960. The Rs 27,870-crore initial public offer of Hyundai Motor India Ltd, which had a price band of Rs 1,865-1,960 per share, was subscribed 2.37 times on the last day of the bidding on Thursday, helped by institutional buyers.