Global Pension Funds, Domestic Insurers Bet Big on Hyundai Motor India IPO
By : Ravi Ranjan Prasad
Update: 2024-10-16 05:30 GMT
Mumbai: Hyundai Motor India equity shares were in demand from global pension funds and domestic insurance companies looking at long term investment prospects.
In all 16 pension funds from US, Canada, Europe, India and other geographies were allocated shares in anchor investors quota in Hyundai Motor IPO shares in anchor investors quota indicating long term positive outlook for auto sector in India and India growth story.
These included Government Pension Fund Global of Norway which got allocation worth overRs 266.62 crore, Canada Pension Plan Investment Board(Rs 166.63 crore), smaller allocations were made to OPESU Pension Plan Trust( Canada), The US based pension funds included The Boeing Company Employee Retirement Plans, Teachers Retirement System of The City of New York,Florida Retirement System, Public Employees Retirement Association of Colorado and Public Employees Retirement System of Ohio, among others.
Among domestic pension funds allottees included National Pension System fund managers SBI Pension Fund and HDFC Pension Fund Management
Domestic private life insurance companies SBI Life Insurance and HDFC Life Insurance were also allocated shares worth over Rs 266.62 crore each, while other domestic insurance companies Max Life Insurance, Kotak Life Insurance, Aditya Birla Life Insurance, Canara HSBC Life Insurance, SBI General Insurance, Bajaj Allianz General Insurance and ICICI Lombard General Insurance also received smaller allotments equity shares worth Rs 116 crore to Rs 10 crore approximately.
Hyundai Motor allotted the highest number of shares to Los Angeles based New World Fund Inc. worth over Rs 772.72 crore and Government of Singapore (Rs 406.52 crore).
Domestic mutual funds, 21 asset management companies were allotted shares worth over Rs 2861.74 crore across 83 MF schemes.
In all 16 pension funds from US, Canada, Europe, India and other geographies were allocated shares in anchor investors quota in Hyundai Motor IPO shares in anchor investors quota indicating long term positive outlook for auto sector in India and India growth story.
These included Government Pension Fund Global of Norway which got allocation worth overRs 266.62 crore, Canada Pension Plan Investment Board(Rs 166.63 crore), smaller allocations were made to OPESU Pension Plan Trust( Canada), The US based pension funds included The Boeing Company Employee Retirement Plans, Teachers Retirement System of The City of New York,Florida Retirement System, Public Employees Retirement Association of Colorado and Public Employees Retirement System of Ohio, among others.
Among domestic pension funds allottees included National Pension System fund managers SBI Pension Fund and HDFC Pension Fund Management
Domestic private life insurance companies SBI Life Insurance and HDFC Life Insurance were also allocated shares worth over Rs 266.62 crore each, while other domestic insurance companies Max Life Insurance, Kotak Life Insurance, Aditya Birla Life Insurance, Canara HSBC Life Insurance, SBI General Insurance, Bajaj Allianz General Insurance and ICICI Lombard General Insurance also received smaller allotments equity shares worth Rs 116 crore to Rs 10 crore approximately.
Hyundai Motor allotted the highest number of shares to Los Angeles based New World Fund Inc. worth over Rs 772.72 crore and Government of Singapore (Rs 406.52 crore).
Domestic mutual funds, 21 asset management companies were allotted shares worth over Rs 2861.74 crore across 83 MF schemes.