Hyundai's $3.3 Billion IPO Faces Tepid Investor Response in India

The largest IPO in Indian history struggles with only 42% subscription amid high valuations and market uncertainties.

Hyundai Motor India's IPO is the largest in Indian history, aiming to raise $3.3 billion through a 100% offer for sale by the Korean parent company.
As of the second day of bidding, the IPO has only achieved 42% subscription, with institutional investors showing more interest than retail investors.
Market analysts attribute the weak demand to high valuations and a lack of fresh capital for expansion, as the IPO is solely for stake dilution.
Social media reactions highlight concerns over the promoters' intent to cash out rather than fund growth, potentially impacting future stock performance.
The IPO's success is crucial for Hyundai, as it seeks to enhance its brand visibility and liquidity in the Indian market, with shares set to start trading on October 22.