Mumbai: Hyundai Motor Indiais initial public offering (IPO) – India’s largest ever IPO – was subscribed 0.42 times on Wednesday, the second day of the public issue. The Rs 27,870 crore IPO is priced at Rs 1,865-1,960 per share.
The non-institutional investor (NII) portion, mostly high-net-worth individuals, was subscribed 0.26 times, while the retail investor portion saw a subscription of 0.38 times. The employee reserved portion, offered at a discount of Rs 186 per share, was oversubscribed 1.31 times (130%). Meanwhile, the qualified institutional buyer (EVALUATION) portion is subscribed 0.58 times.
The IPO will remain open for subscription until Thursday evening. About 35% of the total shares in the offering are reserved for retail investorswhile QIB and NII are offered 50% and 15% of the issue size.
