South Korean automaker Hyundai Motor’s India unit will raise more than $3 billion in what would be the biggest-ever initial public offering in India. Hyundai Motor India’s share sale, which would beat the previous Indian IPO record of around $2.

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.

Investors can check the IPO allotment status on the website of Kfin Technologies. (Image: Reuters) Hyundai India IPO closed the issue with a total subscription of 2.37 times. The qualitative institutional investors saved the issue on the last day by subscribing to it almost 7 times.

The Rs 27,870 crore mega initial public offering (IPO) of India’s second largest carmaker, Hyundai Motor India Ltd (HMIL), closed on October 17 with an oversubscription of 237 per cent, or 2.4 times. The public issue received applications for 23.63 crore shares as against a total offering of 9.97 crore shares.

As the public issue is solely an OFS, Hyundai Motor India Ltd, which stands as the second largest car manufacturer in India after Maruti Suzuki, will not receive any proceeds from the IPO.

The initial public offering (IPO) of Hyundai Motor India Ltd. (HMIL) has been fully subscribed, closing on a high note on the final day of bidding7, 2024. The Rs 27,870 crore issue, which had opened for public subscription on October 15,

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.

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.