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.

Today is the last date for subscribing the Hyundai Motor India Limited IPO. The eagerly awaited mainboard initial public offering (IPO) of Hyundai Motor India was open for subscription on October 15.

QIBs portion subscribed 6.97 times. Retail individual investors shun issue as subscription lagged at 0.5 times after premium in the gray market nosedived.

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.

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

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.

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.

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.