About 35% of the total shares in the offering are reserved for retail investors, while QIBs and NIIs are offered 50% and 15% of the issue size. Hyundai Motor India's initial public offering (IPO) - India's largest issue ever - was subscribed 0.42 times on Wednesday, the second day of the public issue. The Rs27,870-crore IPO is priced at INR 1,865-1,960 per share.
The non-institutional investor (NII) portion, primarily 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 INR 186 per share, was oversubscribed at 1.31 times (130%). Meanwhile, the qualified institutional buyer (QIB) portion was 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 investors, while QIBs and NIIs are offered 50% and 15% of the issue size.
