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.

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.

Hyundai’s IPO was seen as a pivotal test for gauging the depth and attractiveness of the domestic equity markets. Through the IPO, the Seoul-headquartered parent divested a 17.5 per cent stake and mobilised Rs 27,870 crore—the highest-ever by way of an IPO.

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

The GMP of Hyundai Motor India has fallen from its peak of ₹570 on September 27 to zero on October 17, indicating listing to be flat at ₹1,960.

The much-awaited mainboard initial public offering (IPO) of leading auto major Hyundai Motor India will open for subscription in India's primary market on Tuesday, October 15, 2024. Shares of the auto major will hit D-Street on October 22,

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 Motors India was incorporated in 1996. Within 17 months of its incorporation, the company started the pilot production of Santro at its Irrungattukottai plant near Chennai. After 28 years of a roller coaster journey in India,