Shares of Hyundai Motor India's subsidiary fell more than 5% on the first day of trading on the secondary market after the initial public offering raised a total of $3.3 billion.
After going public, the company's shares started trading at 10% lower than the offer price. Initially, they dropped to 5.95%, but later partially recovered. Market analysts noted that funds may choose to reduce investments due to the current global situation.
"Investors may expect that the shares will remain volatile in the near future," said the analyst. "However, the main indicators indicate that the long-term prospects of the company remain strong."
A representative of Hyundai Motor India stated that the company remains confident in its growth prospects in the Indian market.
