MUMBAI, MAHARASHTRA, INDIA - Hyundai cars seen parked extracurricular the Hyundai showroom successful Mumbai.
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Hyundai Motor India was acceptable to commencement trading Tuesday successful the country's 2 large banal markets aft a $3.3 cardinal archetypal nationalist offering, the country's largest-ever by magnitude raised.
The automaker had offered 142.19 cardinal shares astatine a terms set of 1,865 Indian rupees ($22.18) to 1,960 rupees. Based connected the apical extremity of the terms band, the full offering is valued astatine 278.56 cardinal rupees, oregon $3.3 billion.
The institution has seen its archetypal nationalist offering oversubscribed by implicit 2 times, according to Reuters, pricing the shares astatine the apical extremity astatine 1,960 rupees. The IPO opened connected Oct. 15 and closed connected Oct. 17.
This is the archetypal IPO for a portion of the South Korean automaker extracurricular South Korea.
Unlike a accepted IPO, successful which a steadfast sells caller shares, Hyundai Motor India's listing is an connection for sale, wherever its genitor Hyundai Motor Company sold its shares.
The company's shares volition commencement trading connected the New Delhi-based NSE arsenic good arsenic the Mumbai-based BSE.
The pb bookrunners of Hyundai India's IPO were Kotak Mahindra Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), J.P. Morgan India and Morgan Stanley India.
In June, analysts told CNBC that they were optimistic connected the Indian IPO market, with Neil Bahal, laminitis of Negen Capital saying that helium expects a "record-breaking twelvemonth for India with a important fig of IPOs and backstage equity exits."
"The IPOs are not due to the fact that immoderate tech institution guys deliberation they should rise wealth from the banal marketplace alternatively of from backstage equity. There is astonishing fundamentals successful equity markets with supportive policies from SEBI [Securities and Exchange Board of India], retail information and broad-based opportunities," helium added.
—CNBC's Amala Balakrishner contributed to this story.
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