Market Chatter: Hyundai Motor India's $3.3 Billion IPO Oversubscribed

Hyundai Motor India's $3.3 billion initial public offering was oversubscribed by 2.37 times, which was largely driven by institutional investors, Reuters and Business Standard reported Friday.Qualified institutional buyers bid seven times the shares available to them. The IPO attracted bids worth $5.51 billion, but retail and high-net-worth individual participation was lukewarm, with retail subscriptions reaching only 50%, according to the reports.Overseas investors accounted for nearly 60% of QIB bids, worth 22,540 crore rupees, and the employee portion was subscribed 1.74 times due to a discounted share price.Hyundai Motor India is the Indian business of Hyundai Motor (KRX:005380).(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price (KRW): ₩234500.00, Change: ₩-1000, Percent Change: -0.42%

Market Chatter: Hyundai Motor India's $3.3 Billion IPO Oversubscribed

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