Hyundai Motor India's $3.3 billion IPO was 18% subscribed on the first day of bidding on Tuesday, led by employees who placed orders for four-fifths of the shares reserved for them in the country's largest share sale yet.

The total response for the IPO as of 4 pm IST was for 1.68 crore shares as against the offer size of 9.97 crore shares, showing a subscription level of 17 per cent.

Singapore sovereign wealth fund GIC and US asset management giant BlackRock together picked up stakes worth a total of US$77.3 million, while American financial major Fidelity bought shares worth US$76.5 million. Domestic mutual funds were allocated shares worth a total of US$340 million.

Hyundai Motor India's $3.3 billion IPO opened for bids on Tuesday, aiming for a valuation of up to $19 billion in India's largest share sale yet. The company, India's No. 2 carmaker behind Maruti Suzuki,

The portion for retail individual investors (RIIs) subscribed 26%, while the non-institutional investors category fetched 13% subscriptions. The quota for qualified institutional buyers (QIBs) garnered a 5% subscription.

Following HMIL’s offering, the primary share sale component in 2024’s IPO activity is expected to drop to 36.5 per cent. Despite this decline, experts maintain that the robust fundraising of over Rs 33,772 crore via fresh share sales reflects continued strong demand for growth capital.

Hyundai Motor India's Rs 27,870-crore initial public offering (IPO) saw a steady response on first day of subscription with 18 percent of the overall offer getting subscribed.

Hyundai Motor India Ltd's IPO received 18% subscription on its first day. Raising Rs 27,870 crore, it surpasses LIC’s landmark IPO. The entirety of the share sale is an OFS by Hyundai Motor Company. It's the largest IPO in India,

India’s unregulated gray market is indicating that the excitement around Hyundai Motor India Ltd.’s $3.3 billion initial public offering — poised to be the country’s biggest ever — is cooling.

Hyundai India will start taking orders for its $3.3 billion initial public offering in Mumbai on Monday, the company said in regulatory filings, a deal that will be the country's largest ever share offering and world's second biggest IPO in 2024.

Ringo Choi, Asia-Pacific IPO leader at the accounting company, shares his outlook for initial public offerings in the region.