The maiden share sale by the Indian arm of South Korean automaker Hyundai is the largest IPO in the country, surpassing LIC's initial share sale of Rs 21,000 crore.

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 India's shares in the grey market are now trading at a discount of around Rs 30 against the upper end of the IPO price of Rs 1,960