Key Points
- Hyundai Motor India’s IPO launches today, worth ₹27,870 crore.
- Share price is set between ₹1,865-₹1,960 for 14.22 crore shares.
- 50% of shares are reserved for qualified institutional buyers.
- Anchor investors have already raised ₹8,315 crore before the IPO.
- Strong interest from both global and domestic investment firms.
- Hyundai aims to strengthen its presence in the Indian market.
Looma News
Hyundai Motor India is launching its massive ₹27,870 crore IPO today, making history as the largest IPO ever in India’s primary market. If you’ve been eyeing investment opportunities, this could be your shot.
Shares are priced between ₹1,865 and ₹1,960, and you need to bid for at least seven shares. They’ve set aside a solid chunk of shares for different buyers: 50% for qualified institutional buyers, 15% for high-net-worth individuals, and 35% for retail investors. Plus, if you’re one of their employees, you get a discount of ₹186 per share.
Big Investors on Board
Even before the IPO kicks off, Hyundai has already locked in ₹8,315 crore from anchor investors, which is a promising sign. They’ve allocated 4.2 crore shares at ₹1,960 each to heavyweights like Baillie Gifford and BlackRock. And don’t forget about Indian mutual funds jumping in, with ICICI Prudential and HDFC each snagging shares worth ₹366.5 crore.
Why This Matters
Unsoo Kim, the President of Hyundai Motor India, says India is an exciting market, and they’re ready to get even more involved. With over 26 years in the country and being the second-largest Original Equipment Manufacturer, Hyundai is set to make a bigger splash. They believe this IPO will help them become a more local brand while still holding onto global standards.
