The Rs 27,870 crore initial public offer (IPO) of Hyundai India, which opened for subscription earlier today, has been subscribed by 16% so far on the first day of the bidding process, driven by a strong demand from retail investors.
Around 3:30 pm, the highest demand was driven by the retail investors, subscribing to the issue by 25%, followed by the non-institutional investors, who booked the issue by 11% so far. The portion reserved for the qualified institutional buyers (QIBs) attracted 12,96,337 bids against 2,82,83,260 shares reserved for them, indicating a 5% subscription.
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