Hyundai India's record $3.3 billion IPO subscribed 18% on first day of bidding

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Hyundai Motor India's $3.3 billion IPO was 18 per cent 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.

Higher production capacity would help Hyundai bridge the gap with Maruti Suzuki and extend its narrow lead over Tata and Mahindra.

Prior to the open bidding process, institutional investors including BlackRock and Fidelity on Monday snapped up shares worth $989.4 million as part of the offering.

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Category: EconomyBusiness

Markets: SingaporeIndiaSouth KoreaPeru

Topics: Company Motor Shares India Cent Billion Record Market Hyundai Share

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-10-15 @ 21:06:11 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 496 words

Reading Time: 3 minutes read

Sentences: 22 lines

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