Hyundai Motor India's shares made a disappointing debut on NSE, listing at a 1.5% discount to their issue price of Rs 1,960. The stock opened at Rs 1,931 on the BSE and Rs 1,934 on the NSE, falling short of investor expectations amid ongoing market volatility and concerns about the company’s valuation. The automaker's stock market debut was in line with what analysts had expected, but lower than what the grey market premium had indicated. The Rs 27,870 crore IPO was subscribed 2.3 times, achieving full subscription only on the final day, reflecting tepid interest from investors. With valuations seen as fully priced and the issue being a complete offer for sale (OFS), the company will not receive any proceeds from the IPO, further dampening short-term sentiment. Hyundai’s limited exposure to electric vehicles (EVs) and hybrids, representing only 11% of its current portfolio, has raised concerns about its ability to compete in a market rapidly moving towards EV adoption. Additionally, operational hurdles, such as constrained production capacity and a lack of recent model launches, have further dampened enthusiasm.