Deals

BlackRock, GIC to Invest in Hyundai Motor India IPO

Capital Group, FMR are also looking to participate in offering
Hyundai is looking to raise as much as $3.3 billion in listing

The price range for the IPO of Hyundai Motor Co.’s India unit was set at 1,865 rupees to 1,960 rupees a share. — The price range for the IPO of Hyundai Motor Co.’s India unit was set at 1,865 rupees to 1,960 rupees a share.
Photographer: Milan Jaros/Bloomberg

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By Julia Fioretti, Baiju Kalesh, and Manuel Baigorri

October 10, 2024 at 3:17 PM UTC

Updated on

October 11, 2024 at 11:41 AM UTC

This article is for subscribers only.

BlackRock Inc., Singaporean sovereign wealth fund GIC Pte and Capital Group are among those that have made bids to buy stock in Hyundai Motor India Ltd.’s $3.3 billion initial public offering, according to people familiar with the matter.

Baillie Gifford and FMR are also looking to participate in the record-breaking offering in Mumbai, the people said, asking not to be identified as the information isn’t public.