Nomura, Macquarie initiate coverage on Hyundai Motor on listing day, signal up to 26% return
International brokerages have begun covering Hyundai Motor India (HMIL), the nation’s largest issue by size, ahead of its listing. Qualified Institutional Buyers (QIBs) led the subscription rate at 6.97 times, and the issue proved to be successful, obtaining 2.37 times the overall subscription. There were 142.2 million shares up for sale in the Rs 27,870…