Exciting Triumph: BlackRock, GIC, and Capital Group to Fuel Hyundai Motor India’s IPO Success
BlackRock Inc., GIC Pte, and Capital Group are among the investors bidding for shares in Hyundai Motor India Ltd.’s $3.3 billion IPO, allegedly the biggest ever in India. Other potential participants include Baillie Gifford and FMR. The IPO’s anchor book, allocated equally between domestic and international institutions, includes 42.4 million shares. The price range is set at 1,865 to 1,960 rupees per share, valuing Hyundai Motor India at nearly $19 billion at the upper end. This listing is poised to surpass the $2.7 billion raised by Life Insurance Corp. of India in 2022. Benefiting from robust investor interest in India’s economic growth, the nation has seen over $9 billion raised through 250 IPOs this year. Hyundai’s shares are slated for trading starting October 22.
Original Story https://www.business-standard.com/markets/ipo/blackrock-gic-capital-group-to-invest-in-hyundai-motor-india-ipo-124101101125_1.html
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