A $3.3-billion initial public offering by Hyundai Motor India was fully subscribed on the final day of bidding on Thursday, with domestic banks and mutual funds buying into the country's first automaker to go public in two decades.

Hyundai Motor India's IPO was subscribed 2.37 times on the third day, surpassing LIC's initial share sale. Led by institutional investors, the IPO raised Rs 27,870 crore, making it the largest in India's history.

Hyundai Motor India Ltd's initial public offering has been subscribed 2.34 times till 4 p.m. on its third and last day on Thursday as the qualified institutional buyers (QIB) portion in the IPO

Today is the last date for subscribing the Hyundai Motor India Limited IPO. The eagerly awaited mainboard initial public offering (IPO) of Hyundai Motor India was open for subscription on October 15.

Hyundai Motor India is set to price its shares at 1,960 rupees to raise $3.3 billion in its initial public offering, according to two sources with direct knowledge of the matter.

Hyundai Motors India was incorporated in 1996. Within 17 months of its incorporation, the company started the pilot production of Santro at its Irrungattukottai plant near Chennai. After 28 years of a roller coaster journey in India,