The grey market premium (GMP) for Hyundai Motor India's initial public offering (IPO) has dropped to 1% or Rs 17 on the last day of the bidding process. To date, the IPO has seen a subscription rate of 42%.
Demand was primarily driven by qualified institutional buyers (QIBs), who accounted for 58% of the subscriptions, while retail investors contributed 38% by around 10 am on Thursday.
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