Hyundai India's record $3.3b IPO subscribed 18% on day 1 of bidding

Hyundai India's record $3.3b IPO subscribed 18% on day 1 of bidding

FILE PHOTO: The Logo of Hyundai Motor India Limited is seen on a parked car in the company's stockyard, in the outskirts of Ahmedabad, India, October 8, 2024. REUTERS/Amit Dave/File Photo

Hyundai Motor India’s $3.3 billion IPO was 18% 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.