Hyundai Motor India's record $3.3 billion IPO oversubscribed on final day

(Reuters) -The $3.3-billion IPO of Hyundai Motor India, the country's largest yet, was fully subscribed on its final day on Thursday, as big institutional investors bid aggressively, though pricing concerns deterred retail investors. As companies rush to go public after a sharp run-up in the Indian equities market this year, Hyundai Motor's first listing outside South Korea ranks as India's biggest ever and the world's second-largest IPO in 2024. "This flotation was too big to fail," said Prashanth Tapse, senior vice president of research at Mehta Equities, adding that recent IPO successes and Hyundai's international image also helped.