Hyundai Motor India's $3.3-billion initial public offering was oversubscribed by more than two times on Thursday attracting aggressive bidding from institutional investors, even though pricing concerns deterred retail participation.

Even if Hyundai India's IPO fails the IPO frenzy will continue as long as the secondary market remains bullish and the newbies in the market remain exuberant, said Vijayakumar of Geojit Financial Services.

Hyundai Motor Co.’s Indian arm is experiencing a rocky start as its monumental $3.3 billion initial public offering (IPO) struggles to captivate investor interest amid a challenging market landscape.

The $3.3-billion IPO of Hyundai Motor India, the country's largest yet, was fully subscribed on its final day on Thursday as institutional investors bid aggressively, though pricing concerns deterred retail investors.

The public issue of Hyundai Motor India, which enjoys the second-largest share of the country's passenger vehicle market, is the largest offering in India since LIC went public with a Rs 21,000 crore

Amid tepid subscription, the Hyundai Motor India Ltd (HMIL) issue has sailed through on the third and final day of bidding as it was subscribed 1.24 times by 1 PM, thanks to a push from large institutions i.

Hyundai India's $3.3 billion IPO was subscribed in 42% on the second day of bidding on Wednesday, led mostly by employees, who were offered shares at a discount and already oversubscribed their part of the offer.

The Indian stock market listing for the local unit of Hyundai Motor Co. will proceed as planned, after the record offering was fully sold on the final day.