Hyundai Motor India on Monday raised ₹8,315.28 crore from anchor investors ahead of the issue opening on Tuesday. In a notice to the exchanges, the Korean automobile major said the IPO committee of the company, in consultation book running lead managers, has finalized allocation of 4.24 crore shares to anchor Investors at ₹1,960 a share — the upper end of the IPO price band. ₹1,865-1,960.
Also read: Hyundai IPO – Hop in for a long ride
In all, 225 anchor investors participated including marquee names such as GIC, Capital Group arms, Fidelity Group, Government Pension Fund Global ( Norges Bank Investment Management ), BlackRock, T Rowe Price , Baillie Gifford and SBI MF, HDFC MF, ICICI Prudential MF , Nippon India MF, Kotak MF and Axis MF.
The ₹27,870-crore IPO from Hyundai Motor will be the largest ever in Indian market. The entire issue is an offer for sale by Korean promoter, Hyundai Motor Company.