Hyundai Motor to list 'biggest ever' on Indian stock market

Hyundai Motor's Indian subsidiary has newly listed on the Indian stock market as the largest in the history of the Indian stock market.

Hyundai Motor held a ceremony to mark its listing on the stock market at the Mumbai National Stock Exchange in India, with Chairman Chung Eui-sun and others in attendance.

At the meeting, Chung said Hyundai Motor's India arm has become part of India, expanding its investment and R&D capabilities and creating more than 250,000 jobs because it knew India was about to be the future.

The listing is the largest in the history of the Indian stock market, and Hyundai Motor has raised 4.5 trillion won as demand is more than twice the amount allocated for stock subscriptions.

With the funds it has secured, Hyundai will research and develop new products and future high-tech technologies and invest in building electric vehicle supply chains and foundations in India.

Before the listing, Chung met with Indian Prime Minister Modi and said he has established himself as the second-largest carmaker in the country thanks to the interest and love of the Indian people, adding that he will be a reliable partner in India's future goals.