Hyundai Motor India's Monumental IPO Dominates Market

The $3.3-billion IPO of Hyundai Motor India, the largest in India, saw full subscription despite retail investors' pricing concerns. The IPO, prompted by Hyundai's international reputation and a strong equities market, promises a significant opening in global markets as it debuts on October 22.

Hyundai Motor India, securing its position with a monumental $3.3-billion IPO, has captivated the market as the country's largest initial public offering concluded on a high note this Thursday. Although apprehensive about pricing, institutional investors showed strong interest, leaving retail participants cautious.

With the Indian equities market experiencing exponential growth, companies are pursuing public listings. Hyundai Motor's IPO emerges as India's largest and the world's second-biggest in 2024. Analysts recognize this was 'too big to fail', driven by Hyundai's robust branding and previous IPO triumphs, as substantial bids doubled the available shares.

The anticipation began earlier this week and was initially led by employee enthusiasm. However, retail investors remain wary due to valuation concerns amid India's sluggish car sales and economic issues. As Hyundai prepares for its trading debut, stakeholders evaluate the potential long-term gains.

(With inputs from agencies.)