Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
Hyundai India’s Rs.27,870-Cr IPO subscribed 2.37 times
The INR 27,870 crore initial public offer (IPO) of Hyundai India was subscribed 2. 37 times. The issue received over 23.63 crore consolidated share bids against 9,97,69,810 shares available for subscription. The issue is entirely an offer for sale (OFS) of 14.2 crore shares, which will be offloaded by the company's Korean parent, Hyundai Motor Global. The price band of the IPO is INR 1,865-1,960 per share.Qualified institutional buyers (QIBs) booked 6.97 times their quota. Retail investors subscribed only 50% against the quota of 4,94,95,705 shares available for subscription. Non-institutional investors subscribed only 60% in the quota reserved for them.Kotak Mahindra Capital, Citigroup Global, HSBC Securities, JP Morgan, and Morgan Stanley are the book-running lead managers for the issue.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.