Hyundai Motor India IPO: Automaker raises ₹8,315 crore from anchor investors, details here

Hyundai Motor India Ltd (HMIL) on Monday, October 14, raised a total of ₹8,315 crore from anchor investors ahead of the launch of its initial public offering (IPO) on October 15.

According to stock exchange data, the Indian arm of South Korean automaker Hyundai allocated 4,24,24,890 equity shares to as many as 225 investors in the anchor round.

The shares were allotted at a price of ₹1,960 per share, mobilising around ₹8,315.28 crore. The shares were allocated at the upper band of the IPO price.

New World Fund Inc, Government of Singapore among leading anchor investors

New World Fund Inc, Government of Singapore, JP Morgan Funds, Fidelity Funds, BlackRock Global Funds, SBI Life Insurance Company and HDFC AMC are among the key anchor investors, according to the BSE data.

Domestic MFs corner 34.4% of anchor portion

The BSE data showed that around 1.46 crore equity shares, amounting to 34.42% of the anchor portion were allocated to 21 domestic mutual funds through 83 schemes.

ICICI Prudential Mutual Fund (MF), HDFC MF, Nippon India MF, SBI MF, Kotak MF, Aditya Birla Sun Life MF, Axis MF, UTI MF and Bandhan MF are among the lead domestic investors in the anchor round of the Hyundai Motor India IPO.

Hyundai Motor India IPO to open for subscription on Oct 15

The ₹27,870-crore IPO, billed as India’s largest public offer in terms of issue size so far, will open for subscription on Tuesday, October 15. The IPO comprises an entire Offer for Sale (OFS) of 14.22 crore shares. The company has fixed the price band at ₹1,865 to ₹1,960 per share. The issue concludes on October 17. The minimum lot size is seven shares, and the minimum investment required is ₹13,720 for retail investors.

As the IPO is an OFS, all the proceeds of the IPO will go to the company's promoters.

The IPO is the first initial share sale of a carmaker in more than two decades after Japanese automaker and market leader Maruti Suzuki's listing in 2003.