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'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.

Brokerage Nomura believes there is potential for about 26% upside in Hyundai from its IPO price. Hence, investors sit tight and wait patiently for a new tide in this new auto stock.