After the country's largest IPO, Hyundai Motor India's shares will begin trading.

• The automaker had offered 142.19 million shares at a price range of INR 1,865 to INR 1,960 ($22.18 to $25.20).
• India's largest-ever IPO by the amount raised was reportedly oversubscribed by more than two times, valuing the IPO at 278.56 billion rupees, or $3.3 billion.

On Tuesday, Hyundai Motor India would commence trading in the nation's two major stock exchanges following a $3.3 billion initial public offering, which is the largest in terms of funds raised in the country.

The automaker valued its offering at $3.3 billion based on the top end of the price band, which was 1,960 rupees ($22.18) per share.

Over two times, the company's initial public offering was oversubscribed, according to Reuters, with shares priced at the top end at 1,960 rupees during the IPO from Oct. 15 to Oct. 17.

The South Korean automaker is launching its first IPO outside of South Korea.

Unlike a traditional IPO, where a firm sells fresh shares, Hyundai Motor India's listing is an offer for sale, where its parent Hyundai Motor Company sold its shares.

The company's shares will be listed on both the NSE and BSE in New Delhi and Mumbai, respectively.

The lead bookrunners for Hyundai India's IPO were Kotak Mahindra Capital, Citigroup Global Markets India, HSBC Securities and Capital Markets (India), J.P. Morgan India, and Morgan Stanley India.

In June, analysts predicted that the Indian IPO market would have a record-breaking year with a large number of IPOs and private equity exits, according to Neil Bahal, founder of Negen Capital.

The reason for IPOs is not due to the belief of tech company executives that they should raise funds from the stock market rather than private equity. Instead, there are strong fundamentals in equity markets, with favorable policies from SEBI, high retail participation, and diverse opportunities.