Hyundai Motor India's shares fell 2% in their market debut on Tuesday, after a tepid response from retail investors to the country's largest ever initial public offering.

Shares of Hyundai Motor India dropped as much as 6% in their market debut on Tuesday, after a tepid response from retail investors to the pricing of the country’s largest ever initial public offering.

Hyundai Motor India is now listed on the Indian stock exchange. It is the largest IPO in India's history. Following the listing, Hyundai Motor India plans to invest in new products, technologies, and R&D capacities.

Hyundai Motor India’s IPO raised $3.3 billion in the listing A key challenge for Hyundai in India would be to defend its position as the country’s No. 2 carmaker from rivals Tata Motors and Mahindra & Mahindra.

Hyundai Motor India shares fell nearly 7% on their trading debut Tuesday after a record $3.3 billion initial public offering.

The stock fell 34% when trading commenced but recovered to close at 1,819.6 rupees, down 7.16% from its IPO price, on the first day of trading in Mumbai. The company’s IPO was priced at 1,960 rupees a share, at the top end of its marketed range. Shares of parent company Hyundai Motor edged down about 1% in South Korea.

Hyundai Motor had a lacklustre Indian market debut on Tuesday after raising $3.3 billion in the country's biggest-ever initial public offering, with shares down nearly five percent from their issue price in early trade.

Hyundai Motor India shares slipped almost 6 per cent early in their Mumbai debut, a tepid start to trading for what was the nation’s largest-ever initial public offering. The shares traded as low as 1,