Hyundai Motor India's $3.3-billion initial public offering was oversubscribed by more than two times on Thursday attracting aggressive bidding from institutional investors, even though pricing concerns deterred retail participation.

India's biggest-ever primary market offering saw the lowest retail subscription among recent large IPOs, with only 0.50x retail participation.

Hyundai Motor Co.’s Indian arm is experiencing a rocky start as its monumental $3.3 billion initial public offering (IPO) struggles to captivate investor interest amid a challenging market landscape.

The $3.3-billion IPO of Hyundai Motor India, the country's largest yet, was fully subscribed on its final day on Thursday as institutional investors bid aggressively, though pricing concerns deterred retail investors.

As per BSE data available on Thursday, the category reserved for qualified institutional buyers (QIBs) got bids of a whopping 6.97 times and the portion for employees was subscribed 1.74 times.

The Indian stock market listing for the local unit of Hyundai Motor Co. will proceed as planned, after the record offering was fully sold on the final day.

Hyundai India's $3.3 billion IPO was subscribed in 42% on the second day of bidding on Wednesday, led mostly by employees, who were offered shares at a discount and already oversubscribed their part of the offer.

Hyundai Motor India’s ₹27,870.16 crore IPO is set to close on Thursday. The IPO, which opened for subscription on October 15, is entirely an offer for sale of 14.22 crore shares. Hyundai Motor India IPO Subscription Status As per data on NSE,

A $3.3-billion initial public offering by Hyundai Motor India was fully subscribed on the final day of bidding on Thursday, with domestic banks and mutual funds buying into the country's first automaker to go public in two decades.