In the anchor book, around 21 domestic mutual funds through a total of 83 schemes subscribed to the shares.
Some of the marquee 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 completely 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 the selling shareholder.
Even though the entire proceeds from the IPO will go to the parent company, the management said funds will be used for research and development and new innovative offerings.
The company has fixed a price band of Rs 1865-1960 per share, where investors can bid for 7 shares in one lot.Hyundai is the second largest carmaker 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 production base in Asia.It operates two production facilities in Chennai with a combined installed capacity of 8.24 lakh units per annum and is currently running at over 90%+ capacity utilization.
For the quarter ending June 2024, Hyundai Motor India reported a revenue of Rs 17,344 crore, marking a growth from Rs 16,624 crore in the same period last year. Of the total revenue, 76% was derived from the domestic market, while exports accounted for 24%.
The company’s net profit for the quarter stood at Rs 1,489.65 crore, compared to Rs 1,329.19 crore in the previous year.
Kotak Mahindra Capital, Citigroup Global, HSBC Securities, JP Morgan, and Morgan Stanley are the book running lead managers to the issue, while KFin Technologies is the registrar to the offer.