Despite muted retail interest, Hyundai India IPO gets bids worth $5.5b

Despite muted retail interest, Hyundai India IPO gets bids worth $5.5b

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 initial public offering was oversubscribed by more than two times on Thursday attracting aggressive bidding from institutional investors, even though pricing concerns deterred retail participation.