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.

India's biggest-ever primary market offering saw the lowest retail subscription among recent large IPOs, with only 0.50x retail participation.

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