Hyundai Motor India, the country’s second-largest car manufacturer, is gearing up for a record-breaking Initial Public Offering (IPO). On October 14, just ahead of the public subscription period, the company raised ₹8,315.3 crore from 225 anchor investors, signaling strong market interest. This IPO, worth ₹27,870 crore ($3.3 billion), is set to be one of the largest in India’s history. It is structured as a complete Offer for Sale (OFS), meaning the proceeds will go entirely to the South Korean parent company, Hyundai Motor Company, while Hyundai Motor India will not receive any direct funds from the sale.
The company has set a price band of ₹1,865 to ₹1,960 per share, and investors can place bids between October 15 and October 17. With significant participation from global institutional investors such as the Government of Singapore, Fidelity, and Goldman Sachs, as well as major domestic players like SBI Mutual Fund and HDFC Life Insurance, the anchor portion has already been fully subscribed. These investors were allocated 4.2 crore equity shares at ₹1,960 per share, the upper end of the price band.
Among the notable international investors are Baillie Gifford, Vanguard, and the Abu Dhabi Investment Authority. At the same time, domestic firms such as Kotak Mutual Fund, Axis Mutual Fund, and ICICI Prudential also participated. Overall, 21 mutual funds acquired shares through 83 different schemes, further underscoring the robust demand for the IPO.
Hyundai has reserved 7.78 lakh equity shares for its employees, offering them a ₹186 per share discount on the final offer price. The company expects to finalize share allotment by October 18, with shares set to list on stock exchanges by October 22.
Hyundai Motor India, known for its popular models like the Creta, Venue, and i20, enjoys a strong market position and is second only to Maruti Suzuki in sales. The company has built a significant customer base in India, and the scale of its IPO has already generated high expectations among investors.
Disclaimer:
This content is for informational purposes only and does not constitute financial advice, investment recommendations, or an offer to buy or sell securities. Investing in IPOs involves risks, and investors should carefully review the prospectus and consult with a financial advisor before making investment decisions. Past performance is not indicative of future results. The information provided here is based on public sources and may change as new data becomes available.
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