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Grapevine: Ola seeks investor nod for listing; BlackRock among bidders in Hyundai India IPO

VCCircle

VCCircle · 9m ago

Grapevine: Ola seeks investor nod for listing; BlackRock among bidders in Hyundai India IPO

- Ola seeks investor approval for a change in registration to a public company, potentially paving the way for an IPO. - Investors including SoftBank, Tiger Global, and Z47 (formerly Matrix Partner India) back Ola. - The management of Ola is in the process of selecting bankers for the IPO. - BlackRock is among the bidders for the IPO of Hyundai India. - The Arc reported on Ola's move towards a potential listing and IPO.

Related News

GIC, BlackRock snap up Hyundai India shares in record $3.3 bn IPO

VCCircle

VCCircle · 9m ago

GIC, BlackRock snap up Hyundai India shares in record $3.3 bn IPO

Hyundai Motor India has raised $989.4m by selling shares to institutional investors, including BlackRock and Fidelity, in the country's largest IPO yet. The initial public offering, which is expected to raise $3.3bn in total, saw the Singapore government and BlackRock acquire shares worth a combined $77.3m, while Fidelity purchased shares worth $76.5m. Hyundai India will not issue new shares, with its Korean parent instead selling up to 17.5% of its stake in the unit, which would be valued at up to $19bn, when listed in Mumbai on 22 October.

Ola Electric eyes IPO filing by end-October in expedited listing plan

Economic Times

Economic Times · 1y ago

Ola Electric eyes IPO filing by end-October in expedited listing plan

Ola Electric, the Indian e-scooter maker, plans to file regulatory papers for its IPO of up to $700 million by the end of October. Backed by investors such as SoftBank and Temasek, Ola Electric seeks to fast-track its listing process. The company's IPO project is internally known as "Project Himalaya", and it has asked its bankers and lawyers to prioritize meeting a five-week deadline. Ola Electric's IPO roadshows are expected to take place in January or February. The company, with a 30% market share in India, recorded a loss of $136 million in the fiscal year ending March 2023.

Swiggy cuts IPO valuation again, BlackRock and CPPIB to invest

VCCircle

VCCircle · 8m ago

Swiggy cuts IPO valuation again, BlackRock and CPPIB to invest

Indian food delivery giant, Swiggy, has reduced its IPO valuation to $11.3 billion, 25% lower than its initial target of $15 billion, amid market volatility and concerns following Hyundai India's lackluster debut. BlackRock and Canada Pension Plan Investment Board (CPPIB) are among the investors set to invest in the $1.4 billion IPO. Swiggy aims to avoid a tepid response and is consulting with investors to mitigate risks associated with the global uncertainty surrounding the US presidential election.

Hyundai starts setting the stage for India’s biggest IPO

Livemint

Livemint · 1y ago

Hyundai starts setting the stage for India’s biggest IPO

Hyundai Motor Co. is planning to invite analysts to its manufacturing facility in Chennai as it prepares for India's largest initial public offering (IPO). Hyundai Motor India aims to file a draft red herring prospectus for its $3-3.5 billion IPO in June, with the goal of completing its share market listing ahead of Diwali. The IPO will enable Hyundai to enhance its market value and boost its valuation, in line with the South Korean government’s 'corporate value-up' programme. The move is seen as a sign of the potential for value-realization in India's passenger vehicle market.

LG Electronics India gets Sebi nod for Rs 15,000 crore IPO

Business Today

Business Today · 4m ago

LG Electronics India has received SEBI approval for a Rs 15,000 crore IPO, comprising an Offer for Sale of over 10.18 crore shares (15% stake). The company reported Rs 64,087.97 crore in revenue. Key firms managing the IPO include Morgan Stanley, J P Morgan India, and others. LG competes with Samsung and Sony, with manufacturing sites in Noida and Pune. In 2024, the Indian IPO market hit a record $20.5 billion, led by Hyundai Motor's $3.8 billion IPO.

Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms

Livemint

Livemint · 1y ago

Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms

Indian automakers Tata Motors and Mahindra & Mahindra are closing in on Hyundai's position as the second-largest automobile manufacturer in India. The competition comes as Hyundai prepares for a $3.5 billion IPO of its local unit. While Hyundai has long battled with Tata Motors for the second spot, Mahindra has been steadily climbing up the charts due to the increasing popularity of larger passenger vehicles in India. This tussle for sales in India, one of the world's fastest-growing automobile markets, comes as Hyundai plans to gauge investor interest ahead of its expected IPO later this year.

Tata Power weighs listing Mubadala, BlackRock-backed green energy unit

VCCircle

VCCircle · 3m ago

Tata Power weighs listing Mubadala, BlackRock-backed green energy unit

Tata Power Company Ltd is considering the public listing of its green energy arm, backed by Mubadala and BlackRock. This move aligns with the trend among Indian renewable energy companies that are either publicly listed or planning initial public offerings. The objective is to capitalize on the growing interest in renewable energy, with Tata Power taking steps in preparation for the potential IPO of its green energy unit.

IPO-Bound Ola Electric Mulls Bidding For Lithium Mining Rights

Inc42 · 1y ago

IPO-Bound Ola Electric Mulls Bidding For Lithium Mining Rights

Ola Electric, the EV manufacturer planning an IPO, is reportedly considering bidding for mining rights for lithium blocks being auctioned by the Indian government. The startup is constructing its Ola gigafactory with a projected production capacity of 20 GWh and acquiring lithium reserves would facilitate battery production for its EVs. Other potential bidders for the lithium reserves in Jammu and Kashmir include Adani Enterprises, Vedanta Ltd, Reliance Industries, and Himadri Chemicals. The development comes as Ola Electric continues to lead the two-wheeler EV market in India, with increasing registrations and sales.

Hyundai to launch $3 bn India IPO next week, targets $19 bn valuation

VCCircle

VCCircle · 9m ago

Hyundai to launch $3 bn India IPO next week, targets $19 bn valuation

- Hyundai's India IPO is set to open for subscriptions next week, aiming for a valuation of up to $19 billion. - The IPO will be Hyundai's first stock market listing outside South Korea and the first carmaker IPO in India in two decades. - The $3 billion IPO will be available for institutional investors from Oct. 14, with bids from retail and other categories accepted from Oct. 15-17. - At the upper end of the price range, Hyundai will be valued at approximately $19 billion, with trading scheduled to start on Oct. 22. - Hyundai plans to regain market share in India through the expansion of its SUV lineup and the introduction of electric and gasoline-powered models tailored to the Indian market. - The IPO will not involve the issuance of new shares, with Hyundai's South Korean parent company selling up to 17.5% of its stake in the wholly owned Indian unit.

Ola’s House Of Unicorns

Inc42 · 11m ago

Ola’s House Of Unicorns

Bhavish Aggarwal, the founder of Ola, is set to take Ola Electric public, marking the first IPO in a series expected to come from the Ola group. After the listing, Ola Electric will become the first auto sector company in two decades to be listed on the exchanges. Aggarwal's attention will likely shift to Ola, Krutrim, and the company's new verticals following the IPO.

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