Today is going to be a very special day for stock market investors. Hyundai, the country's second-largest vehicle manufacturer and seller, is going to launch the biggest IPO ever. The company has also kept the price of its shares very high. It will not be easy for retail investors to invest money in it. Even before the IPO opens, Rs 8,315 crore has come into the company's account, due to which it is believed that its entire issue will be filled on the first day today.
In fact, Hyundai Motor India Limited (HMIL), the Indian unit of South Korean vehicle manufacturer Hyundai, raised Rs 8,315 crore from anchor investors on Monday, a day before its initial public offering (IPO). The company has set a target of raising a total of $ 3.3 billion (about Rs 27,870 crore) through IPO, which is considered to be more than LIC's Rs 21 thousand crore and the country's largest IPO.
Who invested so much money?
In the information given to the stock market, Hyundai said that companies like New World Fund Inc., Singapore Government, Fidelity Funds, BlackRock Global Funds, JP Morgan Funds, HDFC Life Insurance Company, and SBI Life Insurance were among the anchor (big) investors who were allotted shares. The company has raised this amount from a total of 225 small and big anchor investors. The company has given 4.2 crore equity shares to anchor investors, which have been priced at Rs 1,960.
When can you invest
The company allotted 4.2 crore shares to anchor investors. Apart from this, 1.46 crore shares have also been allotted to 21 domestic mutual fund companies. These mutual funds have invested in it through 83 schemes. The company has said that it will launch an IPO for retail investors on October 15. Investment in its IPO can be made only till October 18.
What is the share price and when will it be listed
The company has kept the price band of its IPO at Rs 1,865-1,960 per share. The company has made special arrangements for its employees and has reserved 7,78,400 shares for them. Not only this, the employees will also get these shares at a lower price of Rs 186. Hyundai has also set the date for allotment of shares on October 18 and its IPO will also be listed in the market on October 22.
