Hyundai Motor India IPO: A Record-Breaking Debut

Hyundai Motor India's IPO, the largest in India at Rs 27,870 crore, received 42% subscription on the second day. The IPO, fully an offer for sale by the South Korean parent, marks the first automaker's public offering in two decades, aiming to boost visibility and brand image.

Hyundai Motor India Ltd's initial public offering has garnered significant attention, with 42% subscription recorded by the second day. The Rs 27,870 crore offer is the largest ever in India, surpassing LIC's previous record.

As per NSE data, the IPO received 4,17,21,442 bids against the offered 9,97,69,810 shares. The Qualified Institutional Buyers (QIBs) category saw a 58% subscription, while Retail Individual Investors (RIIs) and non-institutional investors subscribed at 38% and 26% respectively.

This IPO, fully an offer for sale by Hyundai Motor Company, reflects the first automaker's public offer in over two decades. Hyundai's move aims to enhance its visibility and market presence, although proceeds will not go to Hyundai Motor India. The IPO is set to close on Thursday.

(With inputs from agencies.)