Hyundai Motor India shares rise up to 6% a day after stock listing on NSE, BSE

The stock surged up to 6% to hit an intraday high of ₹1,928.90 apiece on the NSE. It later pared some gains and was trading at ₹1,873.9, up 2.9% at 11:22 am.

The company's market capitalisation stands at ₹1,52,270.20 crore.

After the listing, Hyundai Motor Group Executive chair Euisun Chung said the automaker's public offer shows its commitment to the country.

"Today's IPO shows that HMIL is a key part of India. It demonstrates our commitment to this great nation and ensures that our shareholders and HMIL will continue to grow together," Chung said.

We want to become a home brand: Hyundai MD

Hyundai Motor India Managing Director Unsoo Kim said that the IPO was the right action to further "Indianise our operations".

"We want to become a home brand ... while the IPO is an important milestone, but it's the just the beginning. We will put our all efforts to satisfy our customers, with our prominent products, and the services, and uphold our shareholders value and also contribute to India's sustainable growth with our continued investment," he said.

Hyundai Motor India IPO, with a price band of ₹1,865-₹1,960 per share, was subscribed 2.37 times during the bidding period, aided by institutional investors.

This was the first initial public offering by a carmaker in more than two decades, following the listing of Japanese carmaker Maruti Suzuki in 2003.

The initial share was solely an offer for sale (OFS) of 14,21,94,700 shares by the parent firm, Hyundai Motor Company (HMC). There was no fresh issue component.