Hyundai IPO: Hyundai Motor’s Indian unit IPO opens, company raises Rs 8,315 crore in advance from anchor investors

New Delhi| The initial public offering (IPO) of Hyundai Motor India Limited entered the Indian market today. The public issue will be open until 17 October 2024. Therefore, Hyundai Motor India’s IPO membership will be open for bidding from Tuesday to Thursday this week.

Auto OEM company fixes price band of Hyundai Motor India IPO ₹1865 to ₹1960 per equity share. This is purely an offer for sale (OFS), which means that the net proceeds of a public issue will not fall into the company’s balance sheet. Auto company aims to raise ₹27,870.16 crore from Hyundai Motor India IPO.

Hyundai Motor India Limited (HMIL), the Indian arm of South Korean automaker Hyundai, raised Rs 8,315 crore from anchor investors on Monday, just a day before its initial public offering (IPO).

According to the information given on the BSE website, companies like New World Fund Inc, Singapore Government, Fidelity Funds, BlackRock Global Funds, JP Morgan Funds, HDFC Life Insurance Company and SBI Life Insurance were among the anchor (big) investors who were allotted shares. Went. It is being claimed that it will be India’s largest IPO, surpassing LIC’s Rs 21,000 crore IPO.