Hyundai Motor India Ltd (HMIL) successfully raised ₹8,315 crore from anchor investors on October 14, setting the stage for its IPO. The company allocated 4,24,24,890 equity shares at ₹1,960 each to 225 investors, using the upper band of the IPO price for allocations.
Leading global and domestic investors, including New World Fund Inc, Government of Singapore, JP Morgan Funds, and BlackRock Global Funds, participated in the anchor round. Prominent insurers like SBI Life Insurance and HDFC AMC also secured stakes.
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Domestic mutual funds were significant participants, with 1.46 crore shares, making up 34.42% of the anchor portion, allocated across 83 schemes. Key domestic mutual funds involved included ICICI Prudential, HDFC, Nippon India, and SBI.
The IPO, valued at ₹27,870 crore and considered India’s largest in terms of issue size, is set to open on October 15. The IPO is entirely an Offer for Sale (OFS) of 14.22 crore shares, with a price band of ₹1,865 to ₹1,960 per share.
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Retail investors can invest with a minimum lot size of seven shares, translating to a minimum investment of ₹13,720. As an OFS, the proceeds will go directly to Hyundai’s promoters, rather than the company itself.
This IPO marks a significant event as it is the first initial public offering by a car manufacturer in India since Maruti Suzuki’s in 2003, underscoring Hyundai’s ambitious expansion plans in the Indian automotive market.