Hyundai Motor IPO: Over 100 Top Global & Domestic Investors To Participate In Anchor Book Round; Names?

Hyundai Motor India's highly anticipated Initial Public Offering (IPO) is creating a buzz as the company prepares to launch what could become the largest public issue in the history of the Indian stock market. The Indian subsidiary of South Korean auto giant Hyundai Motor Co. is engaging with more than 100 top global and domestic investors for the anchor book round of the IPO, according to a report from Moneycontrol. If successful, this IPO could surpass the previous record held by the Life Insurance Corporation of India (LIC).

Top Investors Eyeing Anchor Round

Several leading global and Indian institutional investors are reportedly in talks to participate in the anchor book round. Some of the major names being considered include GIC, Capital Group arms, Fidelity Group arms, Government Pension Fund Global (Norges Bank Investment Management), BlackRock, T Rowe Price, Baillie Gifford, and prominent Indian mutual funds like SBI MF, HDFC MF, ICICI Prudential MF, Nippon India MF, Kotak MF, and Axis MF.

IPO Details and Timelines

Hyundai Motor India's IPO aims to raise $3.3 billion, according to a Bloomberg report. The price band for the issue is set between Rs 1,865 and Rs 1,960 per share, making it one of the largest and most valuable listings to hit the Indian bourses. The IPO is scheduled to open for public bidding on October 15 and will close on October 17, giving investors a short window to participate in this landmark event. The anchor round, reserved for institutional investors, will take place on Monday, October 14, ahead of the public offering.

Hyundai Motor India has been a significant player in the Indian automotive market, with a portfolio that includes 13 models spanning sedans, hatchbacks, sports utility vehicles (SUVs), and battery electric vehicles (BEVs). The company is not only a leading player in the domestic market but also an exporter. Hyundai has been India's largest exporter of passenger vehicles from fiscal 2005 to the first 11 months of fiscal 2024, holding the record for the highest cumulative number of passenger vehicles exported during that period, as per a Crisil report.

Additionally, the company is a major manufacturer of automotive components like transmissions and engines, further solidifying its role in the Indian automotive ecosystem.

If Hyundai Motor India's IPO achieves its target, it will become the largest public issue in India, surpassing LIC's historic listing earlier. This could mark a new era for the Indian stock market, attracting even more attention from global and domestic investors.

As the IPO launch date approaches, all eyes will be on Hyundai Motor India and its anchor investors. With strong investor interest and a promising business model, the IPO is expected to create waves in the market.