Hyundai IPO sees lukewarm response from investors on Day 1
The initial public offering (IPO) of Hyundai Motor India saw a lukewarm response from investors on Tuesday, with the issue subscribed 0.18 times or 18 per cent on Day 1 of the subscription.
Private sector lender Axis Bank on Wednesday announced its partnership with Hyundai Motor India Limited (HMIL) for auto retail financing solutions to its customers. This partnership will allow Hyundai Motor customers to get auto loan sanctioned directly on the car maker’s end-to-end online retail platform ‘Click to Buy’ (CTB).
As per the statement issued by the company, the partnership will allow customers to view process and avail auto loan sanction directly on Hyundai’s CTB platform.
This solution provides customers with the convenience of acquiring requisite funding for their desired Hyundai car through a ‘one-stop-shop’ platform catering to all their vehicle purchase needs, the state team added.
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Speaking on the partnership, Sumit Bali, President & Head Retail Lending & Payments, Axis Bank said, “In the current pandemic situation, this initiative will ensure that customized finance products are digitally available to all customers, bringing them one step closer to owning their dream car.”
W S Oh, Executive Director for Corporate Planning at Hyundai Motor India said, “our partnership with Axis Bank will initiate a new beginning for the customers with the lucrative and attractive online finance deals available on the platform.”
Since the launch of ‘Click to Buy’, the company has received over seven million visitors and have recorded over 47,000 registrations.
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