Tag Archives: complaints

Hyundai Motor India Share to List Today After IPO Amid Complaints From Retail Investors

Posted on by
Reply

Hyundai Motor India, the Indian arm of South Korea’s automotive giant, is poised to make its stock market debut this week following a historic Initial Public Offering (IPO), officials confirmed on Monday.

The company’s shares will begin trading on Tuesday, after successfully concluding last week’s $3.3 billion IPO, the largest ever in India’s market history. This debut surpasses the previous record held by the Life Insurance Corporation of India (LIC), which raised $2.5 billion in its 2022 IPO.

The price band for Hyundai Motor India’s IPO has been set between ₹1,865 and ₹1,960 per share. As a pure offer-for-sale (OFS), all proceeds will go to the promoter company.

However, several retail applicants are upset over non-allocation of shares despite half of the category allocaton was applied.

India plays a crucial role in Hyundai’s global production strategy. In 2023 alone, the company produced 765,000 vehicles in the country. Hyundai Motor India stands as the second-largest carmaker in India, following Maruti Suzuki. The listing is expected to boost its local market competitiveness.

In recent years, Hyundai has ramped up its investments in India, acquiring General Motors’ manufacturing plant in Pune. The facility is undergoing modernization and is expected to reach a production capacity of over 200,000 units annually once operational in the latter half of 2025. This will bring Hyundai Motor India’s total production capacity to 1 million vehicles when combined with its Chennai plant.

Hyundai is also making strides in the electric vehicle (EV) market. By 2030, the company plans to install 485 EV charging stations across India and has partnered with Exide Energy to bolster its battery capabilities. The company will launch its first locally-produced electric SUV, the Creta EV, in 2025, followed by four more EV models by 2030 to meet India’s growing demand for electric vehicles.

OROP Arrears Paid in Record Time: Govt

Posted on by
1

The Government said it has kept its promise with regard to the decision taken on 05 September 2015 to implement the demand of Ex-Servicemen for One Rank One Pension (OROP) and ensured that payments have been made in record time by issuing orders through a notification on 07 November 2015 by the Department of Ex-Servicemen Welfare (ESW) of the Ministry of Defence.

In three months since the issue of these orders, the Department of Ex-Servicemen Welfare (ESW) brought out detailed OROP tables on 03 February 2016, which are available on their website www.desw.gov.in. The 101 tables in these implementation orders contain revised pension of different ranks and categories overcoming the hurdles faced in 2012 when the implementation of CSC-2012 and 6th CPC had taken a longer time.

More than two-thirds of the Ex-Servicemen have now been paid the OROP arrears and the money reached the accounts of 13.02 lakh pensioners amounting to about Rs.2,293 crore. This amount has been released through Defence Pension Disbursing Offices (DPDOs), the State Bank of India (SBI) and the Punjab National Bank (PNB).

As on March 17, the DPDOs have released an amount of about Rs. 606 crore to about 3.20 lakh defence personnel. Of this amount, the SBI has released as of March 17 an amount of Rs. 1,337 crore to 7.75 lakh pensioners which includes Family Pension cases. The PNB has released as on March 17, an amount of about Rs. 350 crore to about 2.07 lakh pensioners which includes Family Pension cases, said a Defence Ministry statement.

Other Banks who have also been assigned the task of disbursement of revised defence pension to Ex-Servicemen have been directed to complete the process of payment latest by March end, it said. Those who have not received their payments or faced problems in receiving the payments, can file their grievances at the following web page of the DESW, http://pgportal.gov.in/pension/RegistrationForm.aspx.