Tag Archives: Hyundai IPO

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

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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.

‘Peak Benglauru Moment’ When Virtual Receptionist Greets Guest From Delhi

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Bengaluru, often celebrated as India’s technology capital, is once again proving why it leads the charge in innovation. In a recent social media post, Ananya Narang, CEO of Entourage and a prominent business influencer, shared her firsthand experience of staying at a hotel managed almost entirely by virtual staff.

During her stay, Narang was surprised to find no traditional front desk employees. Instead, the hotel relied on a futuristic approach—guests were welcomed and assisted via remote hospitality professionals through video conferencing. On-site, only two security guards and a few technicians were present to handle the physical aspects of operations. All other guest interactions, from check-in to concierge services, were managed by staff seated at the hotel’s headquarters, remotely overseeing multiple properties at once.

In her LinkedIn and X (formerly Twitter) post, Narang dubbed the experience a “Peak Bengaluru moment,” capturing the spirit of the city’s tech-forward innovation. “You’ll see this nowhere in India yet, except the Silicon Valley,” she noted, highlighting Bengaluru’s unique embrace of technology.

Her post ignited discussions across social media platforms, with many users marveling at the seamless integration of technology into hospitality. However, it also sparked debate about whether such innovations could truly replace the personal touch that has long been a hallmark of the hotel experience.

As virtual receptionists begin to emerge in Bengaluru’s hotels, the city offers a glimpse into the future of hospitality—a future where efficiency, automation, and digital convenience redefine the guest experience. Whether this model will gain traction across India and beyond remains to be seen, but Bengaluru, once again, is setting the pace for what’s possible.

Hero Motors Withdraws IPO Amid Market Uncertainties Over Middle East Conflict

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Hero Motors Ltd, a subsidiary of two-wheeler giant Hero Motors Company (HMC) Group, has unexpectedly withdrawn its Rs 900 crore initial public offering (IPO), according to a regulatory update from the Securities and Exchange Board of India (SEBI) on Monday. The sudden move is sending ripples through the automotive and financial sectors.

Hero Motors had filed a draft red herring prospectus (DRHP) with SEBI in August, aiming to raise Rs 500 crore via fresh equity and Rs 400 crore through an offer for sale (OFS) by its promoters. The IPO was earmarked to fund expansion at its Gautam Buddha Nagar plant and reduce the company’s debt burden.

The reasons behind the abrupt withdrawal remain undisclosed, with the company only confirming that it retracted the DRHP on October 5, 2024. This surprise decision comes amid rising market volatility, putting the firm’s growth strategy into question.

Hero Motors Ltd, a leading provider of automotive technology and powertrain solutions for major OEMs in the U.S., Europe, India, and ASEAN, had reported strong financial performance ahead of the proposed listing. The company’s revenue surged from Rs 914 crore in FY22 to Rs 1,064 crore in FY24, while gross profit jumped to Rs 419 crore, driven by a robust 22% CAGR over the two years.

Hyundai IPO Signals Strength Despite Market Volatility

In contrast, Hyundai Motor India’s massive Rs 25,000 crore IPO, set to launch on October 14, has received regulatory approval, marking one of the largest Indian listings since LIC’s Rs 21,000 crore IPO. The Hyundai IPO, entirely an OFS of 14.2 crore shares, could place Hyundai India’s market cap at nearly half of its Seoul-listed parent’s $47 billion valuation.

This disparity between Hero’s sudden withdrawal and Hyundai’s ambitious listing highlights diverging strategies in a highly unpredictable market.

The Indian equity market continues to reel under pressure, closing down for the sixth straight session. The BSE Sensex tumbled 638 points to 81,050, while the NSE Nifty shed 219 points to finish at 24,796. This prolonged sell-off has been triggered by foreign fund outflows and geopolitical tensions in the Middle East.

Over the last six trading days, Sensex has plummeted nearly 4,800 points, with Nifty down by 1,420 points. Investor wealth has taken a significant hit, with Rs 25.16 lakh crore wiped out since late September.

As Hero Motors pulls back from the capital markets, Hyundai’s impending listing may signal where investor confidence lies in the current climate. The contrasting moves underscore the need for firms to navigate both market sentiment and global uncertainties with precision.