Hyundai Motor India IPO: A Milestone in Automotive Industry

Hyundai Motor India's $3.3 billion IPO was fully subscribed, marking India's first automaker to go public in 20 years. Domestic banks and mutual funds played a major role in the subscription. The IPO, opening Tuesday and closing Thursday, is India's largest ever and the world's second-largest this year.

Hyundai Motor India's $3.3 billion initial public offering was fully subscribed on the final bidding day, showcasing strong interest from domestic banks and mutual funds. This marks a significant milestone as it's the first Indian automaker to go public in two decades.

The IPO, which opened on Tuesday and concluded on Thursday, is the largest ever in India and ranks as the second-largest globally this year. The response underscores heightened investor confidence in the automotive sector, amid India's growing market.

Such enthusiastic participation from financial institutions indicates robust expectations for Hyundai's continued growth and its pivotal role in shaping the future of the automotive industry in India.

(With inputs from agencies.)