A day after their unimpressive listing on the markets, Hyundai Motor India’s shares jumped by about 6% to Rs 1,928 during Wednesday’s trading session on the BSE.

On Tuesday, Hyundai Motor India made a poor beginning, launching on the NSE at Rs 1,934, 1.3% (or Rs 26) below the issue price of Rs 1,960. Additionally, the equities ended the day at Rs 1,820, 6% below their Tuesday listing price.

Only on the final day did the Rs 27,870 crore IPO reach full subscription, having been booked 2.3 times. The business’s parent company, Hyundai Motor Global, was selling 14.2 crore shares in a comprehensive offer for sale (OFS). All funds will go to the selling shareholder because the IPO was an OFS.

With a ‘Buy’ rating and a target price of Rs 2,472, international broking company Nomura began covering Hyundai Motor on listing day.

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