New Delhi, Oct 15 || The initial public offering (IPO) of Hyundai Motor India saw a lukewarm response from investors on Tuesday, with the issue subscribed 0.18 times or 18 per cent on Day 1 of the subscription.
The company aims to raise up to Rs 27,870 crore, making it the largest-ever IPO of the Indian equity market history since 2022, when Life Insurance Corporation of India (LIC) raised Rs 21,000 crore.
It is open till October 17, and the IPO price band has been fixed at Rs 1,865- Rs 1,960 per share.
One lot of Hyundai Motor India's IPO has seven shares. After the subscription window closes, the share allotment is expected to be finalised on October 18. The shares will be credited to demat accounts on October 21.
Hyundai Motor India shares are likely to debut on stock exchanges on October 22.
The maiden share sale will be a full offer for sale (OFS). It is the first offer from an automaker to list in India in over two decades and the entire proceeds will go to the promoter.