In the anchor book, around 21 domestic mutual funds through a total of 83 schemes subscribed to the shares.
Some of the notable investors who participated 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, among others .
The issue is entirely an offer for sale (OFS) of 14.2 crore shares, which will be sold by the company’s parent company, Hyundai Motor Global. Since the IPO is a OFSall proceeds will go to the selling shareholder.
Although all proceeds from the IPO will go to the parent company, management said the funds will be used for research and development and innovative new offerings.
The company has set a price band of Rs 1,865-1,960 per share, where investors can bid for 7 shares in one lot. Hyundai is India’s second largest automaker 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 production 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 operating at over 90% capacity. utilization.
For the quarter ended June 2024, Hyundai Motor India reported revenue of Rs 17,344 crore, up from Rs 16,624 crore in the same period last year. Of the total income, 76% came from the domestic market, while exports represented 24%.
The company’s net profit for the quarter stood at Rs 1,489.65 crore, compared to Rs 1,329.19 crore a year earlier.
Kotak Mahindra Capital, Citigroup Global, HSBC Securities, JP Morgan and Morgan Stanley are the lead bookrunners for the issue, while KFin Technologies is the registrar for the offer.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.