REVVING UP
Business Today India|November 10, 2024
Strong institutional investor participation helps the ₹27,856-crore Hyundai IPO, India's largest public offer, but tepid debut dampens sentiment
RAHUL OBEROI
REVVING UP

AUTO MAJOR HYUNDAI Motor India made history on October 17, 2024, by successfully completing the country’s largest-ever initial public offering (IPO) worth ₹27,856 crore in the primary market, thanks to strong bidding from institutional investors on the final day of the IPO. The three-day public offering concluded with 2.37 times oversubscription. The IPO attracted bids for 236 million shares against 99.77 million shares on offer. Notably, 83.46% of the bids came from qualified institutional buyers, with their reserved quota being subscribed 6.97 times. In that, 58% of the bids—totalling ₹22,540 crore—came from overseas investors.

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