BlackRock, Fidelity snap up Hyundai India shares in record $3.3b IPO

BlackRock, Fidelity snap up Hyundai India shares in record $3.3b IPO

Visitors use their mobile phones to film the new Hyundai Alcazar, an SUV, during its launch in New Delhi, India, September 9, 2024. REUTERS/Priyanshu Singh/File Photo

Hyundai Motor India sold shares worth $989.4 million to institutional investors including BlackRock and Fidelity on Monday, as the carmaker launched a $3.3 billion IPO that will be the country’s largest share offering yet.