Hyundai Motor India, the country’s second-largest car manufacturer, is reportedly planning to launch a $3 billion Initial Public Offering (IPO) on October 14, 2024. This IPO, if it goes ahead, would be the largest in India after the Life Insurance Corporation’s (LIC) IPO, which was around Rs 21,000 crore. The IPO of Hyundai Motor India Limited will be an offer for sale (OFS), with the company planning to sell 14.2 crore shares, which is around 17.5 per cent of the total shareholding.
The IPO has been approved by the Securities Exchange Board of India (SEBI), the country’s market regulator. However, no official statement has been given by Hyundai regarding the IPO dates. The company’s decision to go public is subject to market conditions, particularly the ongoing conflict between Iran and Israel in the Middle East.
Market Conditions and Geopolitical Tensions
The Indian stock market recently experienced a sharp fall due to Iran’s missile attack on Israel, with both the frontline indices Sensex and Nifty closing down by more than 2 per cent. This was the biggest fall in the stock market in the last two months. The launch of Hyundai Motor India’s IPO could be impacted by unexpected changes in the market due to geopolitical tensions. If the situation escalates, it could affect market stability, which might influence the IPO’s launch date or its success.
Hyundai India is a significant player in the Indian automobile market, holding a market share of around 15 per cent. It is the second-largest car company in the country after Maruti Suzuki. The company has been consistently selling around 60,000 units per month, except for the last few months due to industry-wide slowdown. Nearly one in four Hyundai cars is sold in India now.
Hyundai’s Market Position and Future Prospects
After the listing, Hyundai India’s market cap could be almost half the valuation of its Seoul-listed promoter company Hyundai Motors at $47 billion. The IPO comes at a time when the Indian stock market is witnessing a flurry of public issues. Companies like Swiggy, NTPC Green Energy, and Canara Robeco Asset Management Company are also planning to go public soon.
The surge of retail investors, the resilience of India’s economic growth, and rising optimism about the potential start of a rate-cutting cycle have driven the market on an upward trajectory. However, concerns persist about stretched valuations amid unimpressive quarterly earnings of Indian companies.
NTPC Green Energy, the renewable energy arm of state-run NTPC, has submitted draft papers to the Securities and Exchange Board of India (SEBI) to raise ₹10,000 crore through an initial public offering (IPO). The entire IPO consists of a fresh issue of equity shares, with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).
The company plans to use ₹7,500 crore of the IPO proceeds to repay or prepay loans of its subsidiary, NTPC Renewable Energy Ltd (NREL), while the remaining funds will be allocated for general corporate purposes.
Expected Launch Date
Media reports suggest that the NTPC Green Energy IPO is likely to open in the first week of November. The company has planned investor roadshows in India, particularly in Mumbai, and internationally, with a focus on Singapore.
A portion of the IPO will be reserved for NTPC shareholders. Investors who hold NTPC shares on the record date of the RHP (which will be filed later) will be eligible to participate in this category.
To maximize chances of securing an allotment in the IPO, investors can buy at least one NTPC share now. This will make them eligible for the shareholders’ quota when the IPO launches. Those holding NTPC shares as of the record date can apply under this preferential category.
NTPC Green Energy: A ‘Maharatna’ PSU
NTPC Green Energy, a ‘Maharatna’ central public sector enterprise, manages a portfolio of renewable energy assets, including solar and wind power projects across six states.
As of August 2024, the company operates 3,071 MW of solar projects and 100 MW of wind projects. The broader NTPC group has set an ambitious goal of reaching 60 GW of renewable energy capacity by 2032. Currently, the group has 3.5 GW of installed capacity with over 28 GW in development.
India’s renewable energy sector has seen significant growth in recent years, positioning the country as the fourth-largest globally in renewable energy capacity, which includes wind and solar power. The draft papers, citing a Crisil report, state that India’s renewable energy capacity grew from 63 GW in FY12 to 191 GW by March 2024, including large hydro. As of March 2024, renewable energy accounts for nearly 43% of India’s total power generation capacity, with solar energy leading the way.
IDBI Capital Markets & Securities, HDFC Bank, IIFL Securities, and Nuvama Wealth Management are the lead book-running managers for the IPO. Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, highlighted that the IPO comes at a critical time as NTPC looks to diversify its revenue streams by moving away from its dependence on thermal power.
“With green energy gaining focus in the near future, investors are likely to be keen on getting a slice of this pie,” Bathini told Reuters.
Digital content creators are invited to register to attend the launch of the fifth SpaceX Crew Dragon spacecraft and Falcon 9 rocket that will carry astronauts to the International Space Station for a science expedition mission. This mission is part of NASA’s Commercial Crew Program.
The earliest targeted launch date for the agency’s SpaceX Crew-5 mission is Oct. 3, from Kennedy’s Launch Complex 39A. The launch will carry NASA astronauts Nicole Mann, commander; Josh Cassada, pilot; and mission specialists Koichi Wakata, of JAXA (Japan Aerospace Exploration Agency), and Roscosmos cosmonaut Anna Kikina.
If your passion is to communicate and engage the world online, then this is the event for you! Seize the opportunity to be on the front line to see and share the #Crew5 mission launch.
A maximum of 35 social media users will be selected to attend this two-day event and will be given access similar to news media.
NASA Social participants will have the opportunity to:
View a launch of the SpaceX Falcon 9 rocket
Tour NASA facilities at Kennedy Space Center
Meet and interact with Crew-5 subject matter experts
Meet fellow space enthusiasts who are active on social media
NASA Social registration for the Crew-5 launch opens on August 31 and the deadline to apply is September 6 at 3 p.m. EDT. All social applications will be considered on a case-by-case basis.
Do I need to have a social media account to register?
Yes. This event is designed for people who:
Actively use multiple social networking platforms and tools to disseminate information to a unique audience.
Regularly produce new content that features multimedia elements.
Have the potential to reach a large number of people using digital platforms.
Reach a unique audience, separate and distinctive from traditional news media and/or NASA audiences.
Must have an established history of posting content on social media platforms.
Have previous postings that are highly visible, respected and widely recognized.
Users on all social networks are encouraged to use the hashtag #NASASocial, and #Crew5. Updates and information about the event will be shared on Twitter via @NASASocial and @NASAKennedy, and via posts to Facebook and Instagram.
How do I register?
Registration for this event opens August 31 and closes at 3 p.m. EDT on September 6. Registration is for one person only (you) and is non-transferable. Each individual wishing to attend must register separately. Each application will be considered on a case-by-case basis.
Can I register if I am not a U.S. citizen?
Because of the security deadlines, registration is limited to U.S. citizens. If you have a valid permanent resident card you will be processed as a U.S. citizen.
When will I know if I am selected?
After registrations have been received and processed, an email with confirmation information and additional instructions will be sent to those selected. We expect to send the first notifications on September 13 and waitlist notifications on September 14.
What are NASA Social credentials?
All social applications will be considered on a case-by-case basis. Those chosen must prove through the registration process they meet specific engagement criteria.
If you do not make the registration list for this NASA Social, you still can attend the launch offsite and participate in the conversation online. Find out about ways to experience a launch here.
What are the registration requirements?
Registration indicates your intent to travel to NASA’s Kennedy Space Center in Florida and attend the two-day event in person. You are responsible for your own expenses for travel, accommodation, food, and other amenities.
Some events and participants scheduled to appear at the event are subject to change without notice. NASA is not responsible for loss or damage incurred as a result of attending. NASA, moreover, is not responsible for loss or damage incurred if the event is cancelled with limited or no notice. Please plan accordingly.
Kennedy is a government facility. Those who are selected will need to complete an additional registration step to receive clearance to enter the secure areas.
IMPORTANT: To be admitted, you will need to provide two forms of unexpired government-issued identification; one must be a photo ID and match the name provided on the registration. Those without proper identification cannot be admitted. For a complete list of acceptable forms of ID, please visit: NASA Credentialing Identification Requirements.
All registrants must be at least 18 years old.
Photo: Nasa.gov
What if the launch date changes?
Hundreds of different factors can cause a scheduled launch date to change multiple times. The launch date will not be official until after the Flight Readiness Review. If the launch date changes prior to then, NASA may adjust the date of the NASA Social accordingly to coincide with the new target launch date. NASA will notify registrants of any changes by email.
If the launch is postponed, attendees will be invited to attend a later launch date. NASA cannot accommodate attendees for delays beyond 72 hours.
NASA Social attendees are responsible for any additional costs they incur related to any launch delay. We strongly encourage participants to make travel arrangements that are refundable and/or flexible.
What if I cannot come to the Kennedy Space Center?
If you cannot come to the Kennedy Space Center and attend in person, you should not register for the NASA Social. You can follow the conversation using the #NASASocial hashtag on Twitter. You can watch the launch on NASA Television or www.nasa.gov/live. NASA will provide regular launch and mission updates on @NASA, @NASAKennedy, and @Commercial_Crew.
What are the safety protocols for this event? COVID-19 safety protocols for this event will be communicated closer to the date of the event.
If you cannot make this NASA Social, don’t worry; NASA is planning many other Socials in the near future at various locations! Check back here for updates.
Sony Interactive Entertainment (SIE) on Thursday announced November 12 as the launch date for its highly anticipated next-generation videogame system, PlayStation 5, which will be priced $399.99 or ¥39,980. SIE also revealed new updates to the PS5 game portfolio, including Final Fantasy XVI, Fortnite, Hogwarts Legacy, and a new God of War title.
On November 12, PS5 will be launched in seven key markets — the U.S., Canada, Mexico, Australia, New Zealand, Japan and South Korea. The global rollout, including India, will be on November 19, including Europe, Middle East, South America, Asia and South Africa.
The PS5 Digital Edition will be available for $399.99/¥39,980/€399.99, and PS5 with an Ultra HD Blu-ray disc drive will be available for $499.99/¥49,980/€499.99. Pre-orders will be available starting Thursday, Sept. 17 at select retailers, said Sony in a statement.
4K high-fidelity graphics
Both PS5 models use the same custom processor with integrated CPU and GPU for high-fidelity graphics up to 4K, besides the same ultra-high speed SSD with integrated I/O that will deliver lightning-fast loading. Both PS5 models offer a deepened sense of immersion through the DualSense wireless controller and 3D audio capabilities, enabling players the same transformative gameplay experience regardless of which PS5 they choose, said Sony.
Sony launches PS5 Thursday and pre-order begins Friday, Sept 18, 2020 (SIE)
“Since we first announced our next generation console last year, we have received astounding support from developers and gaming fans all around the world, and it’s truly humbling,” said Jim Ryan, president and CEO of Sony Interactive Entertainment.
“Now we are just a couple of months away from launching PS5, which will offer a new generation of experiences that go beyond players’ expectations of how games can look, feel, sound, and play. We can’t wait for our fans to experience for themselves the incredible speed, the heightened immersion and the breathtaking games on PS5 when we launch this November.”
New Games on PS5
In addition, Sony has also unveiled several new games coming to PS5, including:
Devil May Cry 5 Special Edition (Capcom)
Final Fantasy XVI (Square Enix)
Five Nights at Freddy’s Security Breach (Steel Wool Studios and ScottGames)
Hogwarts Legacy (Warner Bros. Games)
A new God of War title (Santa Monica Studio)
With titles such as Marvel’s Spider-Man: Miles Morales, Call of Duty: Black Ops Cold War, and Demon’s Souls, exclusive titles from SIE Worldwide Studios will be priced at launch from US$49.99 to US$69.99 (RRP) on PS5. However, to support the PlayStation4 community as they transition to the next generation when they’re ready, SIE will launch PS4 versions of a few exclusive titles:
Marvel’s Spider-Man: Miles Morales, Sackboy A Big Adventure, and Horizon Forbidden West.
While these three games were designed to take advantage of PS5 and its unique next-gen features like the ultra-high speed SSD and DualSense controller, PS4 owners will also be able to enjoy these experiences when they launch. The PS4 digital versions of launch games include a free upgrade on both PS5 consoles, while the PS4 disc versions of these games include a free upgrade on the PS5 with Ultra HD Blu-Ray disc drive.
In addition, Sony has revealed the PlayStation Plus Collection, a curated lineup of PS4 games that defined the generation, which will be available to PS Plus members to download and play on PS5. The PS Plus Collection features critically acclaimed games, including Batman Arkham Knight, Bloodborne, Fallout 4, God of War, Monster Hunter: World, Persona 5 among others.
As Prime Minister Narendra Modi is going to visit Chennai on Monday, actor Kamal Haasan has decided to launch his mobile software app a day after on Tuesday, November 7 – his 63rd birthday just to be in touch with his fans.
At a function to mark the 39th anniversary of his fan/welfare club on Sunday November 5, he confirmed the launch of his new political party but the app comes first. He has appealed his fans to contribute funds for the political party and the mobile app will help in maintaining proper accounts, he said.
Instead of cutting a cake, he said his birthday would be celebrated to cut canals in view of the flooding in Chennai. The actor said wryly that the natural disasters do not differentiate between rich and poor and all should join hands to take preventive measures.
Accusing major parties of suppressing the common man, he said people should not feel threatened but react and do something. Even if there is beating, it could be one or twice but not always like “mridangam” which gets hit again and again.
Otherwise, Prime Minister Narendra Modi is visiting Chennai on Monday to participate in the 75th anniversary celebrations of the Daily Thanthi newspaper.