South Korean automaker Hyundai Motor’s India unit will raise more than $3 billion in what would be the biggest-ever initial public offering in India. Hyundai Motor India’s share sale, which would beat the previous Indian IPO record of around $2.

By Nandan Mandayam, Hritam Mukherjee and Aditya Kalra (Reuters) -Hyundai Motor India's $3.3-billion initial public offering was oversubscribed by more than two times on Thursday attracting aggressive bidding from institutional investors,

The US$3.3-billion IPO of Hyundai Motor India, the country’s largest yet, was fully subscribed on its final day on Thursday (Oct 17) as institutional investors bid aggressively, though pricing concerns deterred retail investors.

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's $3.3 billion IPO was subscribed in 42% on the second day of bidding on Wednesday, led mostly by employees, who were offered shares at a discount and already oversubscribed their part of the offer.

Hyundai Motor India aims to raise approximately $3.3 billion, equivalent to over Rs 27,870.16 crore, through its upcoming IPO. As of today, the grey market premium (GMP) for the Hyundai Motor India IPO stands at +60,

The allotment of shares for Hyundai Motor India’s IPO, the largest in India’s history, is scheduled for today. The IPO is a book-built issue of ₹27,870.16 crores and entirely an offer for sale of 14.22 crore shares.

A $3.3-billion initial public offering by Hyundai Motor India was fully subscribed on the final day of bidding on Thursday, with domestic banks and mutual funds buying into the country's first automaker to go public in two decades.