Hyundai Motor India's Record-Breaking IPO

Hyundai Motor India's IPO was subscribed 2.37 times on the third day, surpassing LIC's initial share sale. Led by institutional investors, the IPO raised Rs 27,870 crore, making it the largest in India's history. The offer is entirely for sale, with no proceeds going to the company.

Hyundai Motor India Ltd's initial public offering (IPO) achieved a milestone by being subscribed 2.37 times on Thursday, helped significantly by institutional buyers.

The Rs 27,870 crore IPO has become the largest in Indian history, surpassing Life Insurance Corporation's (LIC) previous record share sale.

Despite being a complete offer for sale with no fresh issue, the IPO has drawn massive interest, particularly from Qualified Institutional Buyers (QIBs), reaffirming Hyundai's strong market presence.

(With inputs from agencies.)