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Hyundai Motor India's South Korean parent may sell stake via IPO
VCCircle
·
1y ago
Medial
South Korea's Hyundai Motor is planning to sell up to a 17.5% stake in its Indian unit through an initial public offering (IPO), aiming to raise up to $3 billion. The IPO, which could be India's largest ever, will involve Hyundai Motor India's South Korean parent selling part of its stake to retail and other investors. The move is expected to reduce Hyundai Motor India's reliance on its parent company for funds and enable it to expand in the Indian market.
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Hyundai rules out special worker share allocation in India IPO despite protests
VCCircle
·
1y ago
Medial
Hyundai Motor has decided against allocating shares to Indian workers in its upcoming $3bn listing on the Indian stock market, despite protests from employees. The carmaker has agreed to engage in talks to address workers' concerns, but will not create a separate employee quota for shares, according to sources. India is an important growth market for Hyundai, which has already invested $5bn in the country. The IPO will be an offer for sale, meaning the South Korean parent will sell up to 17.5% of its stake in the Indian operation.
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Hyundai seeks expansion, higher valuation with India IPO
Livemint
·
1y ago
Medial
Hyundai Motor is planning a $3 billion IPO in India to expand in one of the fastest-growing markets globally and address the "Korea discount" affecting its valuation at home. The IPO will help Hyundai accelerate its growth in India, reduce reliance on its parent company for funds, and fund the launch of electric vehicles and infrastructure in the country. Hyundai's valuation for the India unit IPO is estimated to be around $30 billion, potentially boosting valuations back in South Korea. The IPO plans come amid India's surging stock markets and aim to address the lower valuations typically associated with South Korean companies.
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Hyundai starts setting the stage for India’s biggest IPO
Livemint
·
1y ago
Medial
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.
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Hyundai, Kia exit Ola Electric with bumper returns
VCCircle
·
2m ago
Medial
Hyundai Motor Company and Kia Corporation, part of the Hyundai Motor Group, exited their investment in Ola Electric with considerable profits. The South Korean automakers sold their entire stake in the Indian electric two-wheeler company. This move marks their strategic decision to capitalize on their investment, highlighting a successful partnership and investment strategy that resulted in significant financial returns.
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GIC, BlackRock snap up Hyundai India shares in record $3.3 bn IPO
VCCircle
·
9m ago
Medial
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.
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Hyundai to launch $3 bn India IPO next week, targets $19 bn valuation
VCCircle
·
10m ago
Medial
- 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.
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Hyundai Motor India expected to file draft IPO papers with Sebi today
Livemint
·
1y ago
Medial
Hyundai Motor India Ltd. is expected to file draft papers for its initial public offering (IPO) by Friday, which could potentially be the biggest share sale in the country. The IPO, initially estimated at $3-3.5 billion, is now expected to be closer to $2.5-3 billion. Hyundai aims to provide potential investors with its growth strategy and plans for product development and market expansion. This IPO is crucial for Hyundai as it aims to compete against established automotive giants and enhance its market value. Additionally, the IPO will generate capital for shareholder returns and set a precedent for other Korean companies seeking international listings.
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Hyundai’s IPO can internationalise India’s capital market
Money Control
·
1y ago
Medial
Hyundai's proposed initial public offering (IPO) in India, where the Korean parent company plans to sell a 17.5% stake in its Indian subsidiary, could potentially pave the way for other multinational companies to list their Indian arms. This IPO would benefit the Indian investing public by providing access to a prominent car manufacturer and its research and development capabilities. The success of Hyundai's IPO could also enhance India's position as a financial center for companies from Asia and Africa, potentially surpassing China in terms of financial market sophistication.
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Hyundai Motor's stake in Ola Electric worth $99 million post IPO
Inshorts
·
1y ago
Medial
Hyundai Motor Company's 2.95% stake in Ola Electric is worth roughly $99 million after the electric two-wheeler maker launched its IPO on August 2. The value is based on the higher end of the IPO's price band at ₹76 per share. The ₹6,145-crore IPO was subscribed 35% on Friday, with the retail portion subscribed 1.57 times.
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Hyundai Said to Be Considering One of India’s Biggest Ever IPOs
Thehindubusinessline
·
1y ago
Medial
Hyundai Motor Co. is reportedly considering an IPO for its India unit, potentially raising around $2.5 billion and making it one of the largest listings in the country. The company is said to have had discussions with international banks and may reach out to domestic advisors for pitches soon. The IPO could value the Indian unit at $25 billion.
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