Hyundai Motor India has raised ₹8,315 crore from 225 Anchor Investors ahead of the opening of India’s largest Initial Public Offer (IPO).

The ₹27,870 crore IPO, India’s largest in history, will open for subscription on Tuesday, October 15 and will close on Thursday, October 17.

Price band for the three-day IPO has been fixed between ₹1,865 and ₹1,960 per share. Investors can bid for one lot of seven shares, followed by multiples of seven shares.

All the anchor investors have been issued shares at the upper end of the price band at ₹1,960 per share.

The three-day IPO is a complete Offer For Sale (OFS) where the company’s South Korean parent will be selling its existing stake. An OFS means that the company will not receive any proceeds from the IPO.

Government of Singapore, Monetary Authority of Singapore, New World Fund, Fidelity Funds, Goldman Sachs, Axis MF, Societe Generale, SBI MF are among the many anchor investors who have been issued shares ahead of the mega IPO.

Fund	% Of Anchor Investor Portion
New World Fund	9.29%
Government Of Singapore	4.89%
Government Pension Fund Global	3.21%
Kotak Flexicap Fund	2.38%
SBI Life Insurance	3.21%
HDFC Life Insurance	3.21%

21 Mutual Funds, through a total of 83 schemes or 34.42% of the IPO portion reserved for anchor investors, participated in the issue.

Hyundai Motor India shares will carry a face value of ₹10 each at the time of going public.

The valuation metrics suggest that both Hyundai and Maruti have a Price-to-Earnings of around 26 times, while M&M is slightly higher at 27.4 times.