Historically, many of India’s largest IPOs have struggled to deliver meaningful returns to investors. Major offerings, including Paytm, Reliance Power, General Insurance Corporation of India, and New India Assurance,

The Rs 27,870 crore mega initial public offering (IPO) of India’s second largest carmaker, Hyundai Motor India Ltd (HMIL), closed on October 17 with an oversubscription of 237 per cent, or 2.4 times. The public issue received applications for 23.63 crore shares as against a total offering of 9.97 crore shares.

Chennai-based Hyundai Motor India is selling its shares in the price band of Rs 1,865--1,960 apiece. Investors can apply for a minimum of 7 shares and its multiples thereafter.

Hyundai India's Rs 27,870 crore IPO was subscribed 20% by the second day. Retail investors led with 29% subscription. The offer is an OFS with all proceeds going to Hyundai Motor Global. Analysts recommend subscribing for long-term gains citing Hyundai's strong brand and growth prospects.