Hyundai's Historic IPO: Driving into a New Chapter

Hyundai Motor India Ltd is set to make a historic IPO debut, raising Rs 8,315 crore from anchor investors ahead of its public offering. The IPO, the largest in India, is an offer-for-sale by Hyundai Motor Company, enhancing visibility and liquidity without issuing new shares.

Hyundai Motor India Ltd (HMIL) has made headlines by raising Rs 8,315 crore from anchor investors ahead of its highly anticipated IPO, set to open to the public on October 15.

Among the anchor investors are major names such as New World Fund Inc, Government of Singapore, and JP Morgan Funds, highlighting significant trust in HMIL's potential market performance.

This IPO marks a significant milestone, being the largest in India, surpassing the previous record set by LIC. However, it's entirely an offer-for-sale, meaning HMIL won't receive any proceeds directly.

(With inputs from agencies.)