Hyundai Motor India Ltd's (HMIL) massive IPO opened today, marking India's largest-ever public offer. The company raised Rs 8,315 crore from over 200 anchor investors a day before the launch.
The total IPO size is Rs 27,870 crore, with shares likely to be listed on October 22. Hyundai's COO, Tarun Garg, emphasized the company's commitment to expanding in the electric vehicle (EV) segment. While brokerages expect limited short-term listing gains, eight of them have recommended 'subscribe' for strong long-term returns.