Hyundai Motor IPO review: Brokerages' verdict on India’s biggest issue
Several brokerages including ICICI Direct, Anand Rathi, LKP Securities, and SBI Securities have recommended “Subscribe” with a long-term perspective.
Several brokerages including ICICI Direct, Anand Rathi, LKP Securities, and SBI Securities have recommended “Subscribe” with a long-term perspective.
Hyundai Motor India, the country's second-largest car maker, looks to raise ₹27,870 crore at a valuation of ₹1.59 lakh crore.
The three-day IPO of Hyundai Motor India will open for subscription on October 15, while the tentative listing date is October 22, 2024.
The Indian arm of South Korean automaker Hyundai is expected to file RHP this week and the issue is likely to be launched soon.
The carmaker announced the price increase owing to rising input costs, adverse exchange rate and an increase in commodity prices, among other reasons.
The development would pave the exit of General Motors from the Indian market.
Hyundai currently holds 8% market share in the electric vehicle segment globally. Through this strategy, the company plans to four-fold its EV market share to 34% by 2030.
Hyundai Motor India also plans to modernise its vehicle platform to increase total production volumes to 8,50,000 units per year