BSE has announced that Hyundai Motor India Limited (HMIL) has allotted 4.24 crore shares to 225 funds at ₹1,960 each, marking the upper end of the price band. This allocation results in a transaction volume of ₹8,315.27 crores.
Of the total allotment, 1.46 crore equity shares were distributed to 21 domestic mutual funds through 83 schemes, accounting for 34.42% of the total shareholding. Notable mutual funds participating in this anchor round include ICICI Prudential, HDFC, SBI, Nippon India, Kotak, Axis, Aditya Birla Sun Life, UTI, and Bandhan.
A Quick Look at India’s Largest IPO
Hyundai Motor India’s IPO, set for 2024, is poised to become India’s largest and the second-largest globally, raising ₹27,870 crore, surpassing LIC’s ₹21,000 crore initial share sale. The public subscription period will open from October 15 to October 17, with price bands ranging from ₹1,865 to ₹1,960 per share.
This IPO is an offer-for-sale (OFS) of 14,21,94,700 equity shares from promoter Hyundai Motor Company, with no new issue component. This marks the first IPO by a major Indian automaker in over two decades, following Maruti Suzuki’s listing in 2003.
Follow DelhiBreakings on Google News
Summary at glance
Hyundai Motor India Limited (HMIL) has allotted 4.24 crore shares at ₹1,960 each to 225 funds, totaling ₹8,315.27 crores. Of this, 1.46 crore shares went to 21 domestic mutual funds, representing 34.42% of total shareholding. The upcoming IPO, set to be the largest in India at ₹27,870 crores, opens for public subscription from October 15 to 17, 2024, featuring a price band of ₹1,865 to ₹1,960 per share.
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com