Hyundai Motor India’s record $3.3 billion IPO oversubscribed on final day

The $3.3-billion IPO of Hyundai Motor India, India’s largest yet, was fully subscribed on its final day, with big institutional investors bidding aggressively while retail investors had pricing concerns. The IPO marks India’s biggest ever and the world’s second-largest IPO in 2024, with investors bidding for more than twice the shares on offer, despite concerns about valuations and industry slowdowns. Hyundai India is set to price its shares at 1,960 rupees to secure a market valuation of $19 billion, with retail investors bidding for about 46% of the shares.

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