In the anchor book, around 21 domestic mutual funds have subscribed shares through a total of 83 schemes.
Some of the marquee investors participating in the anchor round include Government of Singapore, New World Fund Inc, Fidelity, ICICI Pru MF, Vanguard, BlackRock, Axis MF, JP Morgan, ADIA, Morgan Stanley, BofA Securities, Citigroup.
The issue is entirely an offer for sale (OFS) of 14.2 crore shares, which will be offloaded by the company’s parent Hyundai Motor Global. Since the IPO is an OFS, all the proceeds will go to the selling shareholder.
Although the entire proceeds from the IPO will go to the parent company, management said the funds will be used for research and development and new innovative offerings.
-
Stock trading
Renko chart patterns made easy
-
Stock trading
A2Z of Stock Trading – Online Stock Trading Course
-
Stock trading
A2Z of Stock Market for Beginners: Stock Market Course for Beginners
-
Stock trading
Options Trading Made Easy: Options Trading Course
-
Stock trading
Dow theory simplified
-
Stock trading
Market 103: Mastering Trends with RMI and Techno-Funda Insights
-
Stock trading
Commodity Markets Made Simple: Commodity Trading Course
-
Stock trading
Stock valuation made easy
-
Stock trading
Technical Trading Made Easy: Online Certification Course
-
Stock trading
Market 104: Options Trading: Kickstart Your F&O Venture
-
Stock trading
Technical Analysis Made Easy: An Online Certification Course
-
Stock trading
RSI Made Easy: RSI Trading Course
-
Stock trading
Introduction to Technical Analysis and Candlestick Theory
-
Stock trading
Cryptocurrency Made Easy: Cryptocurrency Course
-
Stock trading
Macroeconomics Made Easy: Online Certification Course
The company paid Rs. A price band of 1865-1960 has been set, where investors can bid for 7 shares in one lot.
Hyundai is the second largest car manufacturer in India with a portfolio of 13 passenger vehicle models across sedans, hatchbacks and SUVs. The company aims to leverage its strong local manufacturing capabilities to position itself as Hyundai Motor’s largest manufacturing base in Asia.
It operates two manufacturing facilities in Chennai with a combined installed capacity of 8.24 lakh units per annum and is currently running at over 90% capacity utilization.
In the quarter ended June 2024, Hyundai Motor India posted Rs. 17,344 crore in revenue, compared to Rs. 16,624 crore showing growth. 76% of the total revenue was derived from the domestic market, while exports accounted for 24%.
The company’s net profit for the quarter was Rs. 1,489.65 crore, which was Rs. 1,329.19 crores.
Kotak Mahindra Capital, Citigroup Global, HSBC Securities, JP Morgan and Morgan Stanley are the book running lead managers to the issue, while Caffeine Technologies is the registrar of the offer.
(You can now subscribe to our ETMarkets WhatsApp channel)