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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 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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Swiggy, Hyundai, InCred in IPO news; Jupiter eyes SBM India
VCCircle
·
11m ago
Medial
Swiggy has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) of shares. The IPO is expected to be launched in November, with discussions underway with anchor investors. In other IPO news, Hyundai is reportedly considering an IPO for its robotics unit Hyundai Robo, while digital lender InCred is said to be planning a $250 million IPO in 2022. Additionally, digital banking platform Jupiter is eyeing an IPO to acquire the Indian unit of SBM Holdings.
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Check out India's biggest 2024 IPOs as stock markets boom
VCCircle
·
1y ago
Medial
This year, India's stock markets are experiencing a boom with over 150 companies raising nearly $5 billion through initial public offerings (IPOs) between January and July. The biggest IPOs of 2024 include Ola Electric's highly anticipated IPO valued at $734 million, Bharti Hexacom's $511-million IPO, and Aadhar Housing Finance's IPO which raised $358 million. Other notable IPOs include Go Digit General Insurance ($312 million), Bharat Highways InvIT ($300 million), Emcure ($234 million), and Indegene ($220 million). Additionally, Hyundai Motor's Indian business has plans to raise around $3 billion through a share issue later this year.
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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 India IPO bankers set for big payday with $40-mn fee
VCCircle
·
1y ago
Medial
Banks advising Hyundai on its India IPO are expected to earn up to $40 million in fees. This would be the second-highest fee ever for investment banks working on an IPO in India, reflecting the surge in equity deals in the country. Hyundai India is looking to raise up to $3 billion at a valuation of $30 billion through the IPO. The lead banks on the deal include JPMorgan, Citigroup, and HSBC. The expected fee payout from this IPO alone would represent a significant portion of India's total IPO fee income in 2023.
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Hyundai under pressure from Tata, Mahindra as $3.5 billion India IPO looms
Livemint
·
1y ago
Medial
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.
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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 Motor India's Rs 27,870 Cr IPO subscribed 9% so far on Day 1
YourStory
·
10m ago
Medial
Hyundai Motor India Ltd's initial public offering (IPO) received a 9% subscription during the early hours of bidding. The IPO, valued at INR 27,870 crore ($3.3 billion), received bids for 89,92,522 shares against the offer of 9,97,69,810 shares. The portion for retail investors saw a subscription of 15%, and the non-institutional investors category had a 6% subscription. The IPO, which started on October 15 and will run until October 17, is solely an Offer for Sale by Hyundai Motor Company (HMC), with the Indian arm not receiving any proceeds. The proceeds of the sale will go towards enhancing the brand image and providing liquidity for HMC.
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The Hyundai Motor IPO: How the valuations took a reality check
Livemint
·
1y ago
Medial
Hyundai Motor India Ltd is facing challenges as India's demand for hatchbacks and sedans has decreased. The company's expected valuation for its upcoming initial public offering (IPO) has been reduced from $25-30 billion to $16-20 billion due to falling demand and limited production capacity. Hyundai is also facing competition from rivals with more new models in the pipeline. Although the company has good global capabilities and a strong franchise, its market share has been eroding. However, investors are still interested in Hyundai's IPO, recognizing its potential for growth despite market challenges.
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Grapevine: Ola seeks investor nod for listing; BlackRock among bidders in Hyundai India IPO
VCCircle
·
10m ago
Medial
- 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.
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