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.
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.
It included 21 domestic mutual funds through a total of 83 schemes (34.42 per cent of the total allocation to anchor investors).
IPO-bound Hyundai Motor India Ltd (HMIL) has earmarked investments worth around Rs 32,000 crore for India till 2032, as the company predicts a strong and steady EV market growth till 2030.
Hyundai Motor, South Korea's biggest carmaker, said on Wednesday its sales fell 3.7 per cent last month from a year earlier on weak overseas demand.
Electric vehicle (EV) models produced by South Korea's Hyundai Motor and Kia have received top ratings in major global car crash safety tests, the automakers said on Sunday.
A new car manufacturing plant by Hyundai Motor, South Korea's largest automaker, under construction in the US state of Georgia will prioritise producing electric vehicles despite a temporary fluctuation in market demand, the company's CEO said on Monday.
Hyundai Motor, Kia and two other carmakers will recall over 7,700 vehicles due to faulty components, the transport ministry here said on Wednesday.
Hyundai Motor Group said on Friday that it will raise its stake in Motional, the group's autonomous driving joint venture in the United States, through a paid-in capital increase, as well as invest in the local venture partner Aptiv.
Hyundai Motor, Mercedes-Benz Korea, and two other carmakers will recall over 11,000 vehicles due to faulty components, the transport ministry here said on Thursday.
The combined market capitalisation of Hyundai Motor and Kia is widely expected to surpass the 100 trillion-won ($72.2 billion) mark this year, according to industry watchers.
