India’s unregulated gray market is indicating that the excitement around Hyundai Motor India Ltd.’s $3.3 billion initial public offering — poised to be the country’s biggest ever — is cooling.Shares of Hyundai Motor Co.

SYDNEY/SEOUL (Reuters) -Hyundai Motor India sold shares worth $989.4 million to institutional investors including BlackRock and Fidelity on Monday, as the carmaker launched a $3.3 billion IPO that will be the country's largest share offering yet.

As of 3:15 pm, the Employee Reserved portion of the IPO was subscribed the most at 69% followed by retail portion which was subscribed 24%.

Investors should consider holding Hyundai Motor India shares for at least a year to achieve substantial returns. Despite a modest listing

Hyundai Motor India's ₹27,870 crore IPO receives 9% subscription, largest in India, open for public subscription till October 17.

Hyundai India will start taking orders for its $3.3 billion initial public offering in Mumbai on Monday, the company said in regulatory filings, a deal that will be the country's largest ever share offering and world's second biggest IPO in 2024.

Hyundai India's IPO saw a solid start, with 10% subscribed in two hours. Retail bids stood at 17%, while non-institutional investors accounted for 7%.

The three-day subscription for the initial public offering (IPO) of Hyundai Motor India Limited (HMIL) has opened today.

Domestic shares are likely to open higher on Tuesday, tracking a climb in Asian peers, as traders gauged a record overnight finish on Wall Street and a slump in crude oil prices. The Gift Nifty was trading at 25,