Hyundai Motor India’s $3.3 billion IPO fully subscribed on final day

Hyundai Motor India’s Rs 3.3 billion IPO was fully subscribed on the final day, despite initial concerns about retail investor participation. The IPO received strong support from Qualified Institutional Buyers (QIBs), ensuring its success. The offer for sale, priced between Rs 1,865 and Rs 1,960 per share, valued the company at Rs 1.6 lakh crore ($19 billion). Retail investors could subscribe with a minimum lot size of seven shares, requiring an investment of Rs 13,720. The IPO’s allotment is expected to be finalized on October 18, 2024, with the listing date set for October 22, 2024. Hyundai’s strong market presence and growth potential attracted significant interest from institutional investors, reflecting confidence in the company’s future prospects. The successful IPO marks a significant milestone for Hyundai Motor India, enabling it to further Indianize its operations and expand its market footprint in the competitive automotive industry.