Hyundai Motor India has allocated Rs 8,315.3 crore worth of shares to 225 funds/investors in the anchor round, setting the stage for the country’s largest initial public offering (IPO) on Tuesday.
Among the marquee names that have invested in the anchor round include the government of Singapore, Fidelity Securities Funds, Vanguard Investments Funds, Blackrock, Canada Pension Plan Investment Board, JP Morgan Funds, Abu Dhabi Investment Authority, Societe Generale, Goldman Sachs, etc.
The closure of the anchor book marks one of the biggest pre-IPO rounds in India, with Hyundai Motor India allocating around 42.4 million or 30% of IPO shares. The shares were allocated at the upper end of the price band of Rs 1,865-1,960 apiece.
Of the total anchor investments, 34.4% or 14.6 million shares were allotted to 21 domestic mutual funds through a total of 83 schemes.
The Rs 27,870-crore public issue, which is a complete offer for sale, will open for subscription on Tuesday and close on Thursday. The company has set aside at least 35% of the net offer for retail investors, up to 50% for qualified institutional buyers (QIBs), and at least 15% for non-institutional investors (NIIs).
While the IPO has created a lot of buzz among investors, the grey market premium of the stock has fallen sharply this month from Rs 370 to just Rs 30 as of Monday.
