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Photo = Hyundai Motor Group |
[Alpha Biz= Reporter Kim Sangjin] Hyundai Motor's Indian subsidiary has successfully entered the Indian stock market.
According to industry sources on the 19th, Hyundai's Indian subsidiary conducted an IPO worth $3.3 billion (approximately 4.5 trillion won). The offer saw overwhelming interest from institutional investors, with demand exceeding the allocation by more than twice during the share subscription period from the 15th to the 17th.
Global investment firms like BlackRock and Fidelity subscribed to seven times the allocated shares.
However, the subscription rate among individual retail investors was only 50%. This low participation is believed to be due to the IPO price of 1,960 rupees (approximately 31,500 won), which may have been burdensome for individual investors.
This IPO is the largest in the history of the Indian stock market, with Hyundai's Indian subsidiary being valued at around 25 trillion won, nearly half of Hyundai Motor's market cap on the KOSPI.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
