New Delhi: Hyundai India Motor is bringing the country’s biggest IPO. It will open for anchor investors on October 14 while the rest of the investors will be able to bid from October 15. This is a complete offer for sale and through this the company plans to raise more than Rs 25,000 crore. Not only common investors but also special people are eagerly waiting for this IPO. According to a Bloomberg report, the world’s largest asset management company BlackRock Inc., Singapore’s sovereign wealth fund GIC and Capital Group have shown interest in it. BlackRock CEO Larry Fink is considered the most powerful person in the world. This is because BlackRock manages more than $10 trillion in assets. This is about two and a half times the GDP of India and half the GDP of America. You can estimate the status of BlackRock from the fact that this company handles 10% of the total shares and bonds in the world. According to sources, apart from BlackRock and GIC, many other local and international institutional investors have shown interest in Hyundai’s IPO.
Profit of ₹ 270 on every share… The date of the country’s biggest IPO has arrived, know everything
price band
Sources said the anchor book for the country’s biggest IPO has been fully allocated. Of this, half will go to domestic institutions and the other half will go to international investors. The anchor investor portion consists of 42.4 million shares, according to the prospectus. Representatives for Hyundai, BlackRock, Capital Group and GIC declined to comment. The price band for this issue has been fixed at Rs 1,865 to Rs 1,960.
Through this IPO, the parent company of Hyundai India was selling 142.2 million shares i.e. 17.5% stake. At the upper price band, Hyundai Motor India is valued at around $19 billion. Hyundai is India’s second largest car company in terms of sales. Earlier, the record of launching the country’s largest IPO was in the name of LIC. Hyundai’s IPO will be one of the largest IPOs in Asia in recent years. More than $9 billion has been raised in India this year through more than 250 IPOs.
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Meanwhile, the gray market premium for Hyundai’s unlisted shares has fallen by more than 50 percent. Its premium has halved in the last one week. On October 4, it was trading with a premium of Rs 370 but today its premium has come down to Rs 170. Experts say that Hyundai’s IPO is very big and it will draw a lot of liquidity from the market. In this, 50% is reserved for QIBs, 15% for NII and 35% for retail investors.