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☆ BlackRock, Fidelity snap up Hyundai India shares in record $3.3 billion IPO
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: +2 min

Amit Dave | ReutersHyundai Motor India sold shares worth $989.4 million to institutional investors including BlackRock and Fidelity on Monday, as the carmaker launched a $3.3 billion IPO that will be the country's largest share offering yet. The Government of Singapore and BlackRock together picked up stakes worth a total of $77.3 million, while Fidelity bought shares worth $76.5 million. The year-to-date volume has already surpassed the $7.42 billion total raised last year. watch nowAt that size, Hyundai India will make up about 40% of its parent company Hyundai Motor's market capitalization. Hyundai India's IPO is set to eclipse the country's previous record of Life Insurance Corporation of India's 2022 deal when it raised $2.5 billion.

Persons: Amit Dave Organizations: Hyundai Motor India, Reuters Hyundai Motor India, BlackRock, Fidelity, Singapore, Hyundai, Retail, Life Insurance Corporation, India's, IDBI, Hyundai India Locations: Ahmedabad, India, Hyundai India, Mumbai

☆ EY discusses Hyundai Motor India, Tokyo Metro IPOs
▼ + stars: | 2024-10-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEY discusses Hyundai Motor India, Tokyo Metro IPOsRingo Choi, Asia-Pacific IPO leader at the accounting company, shares his outlook for initial public offerings in the region.

Persons: EY, Ringo Choi Organizations: Hyundai Motor, Tokyo Metro Locations: Hyundai Motor India, Tokyo, Asia, Pacific

☆ Consumer companies vie for share of India's booming stock market
▼ + stars: | 2024-10-01 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

More consumer-centric companies are looking to capitalize on India's booming stock market and strong economic growth, by going public. "After a decade, India's growth story is now likely to be driven by private consumption. With a better macro outlook, the risk appetite for investors for business to consumer companies have gone higher," said Atul Singh, CEO and managing director of wealth management firm LGT Wealth India. It may have started with large corporations like Reliance and Adani , but the positive macro story is driving more business to consumer companies to list," Singh told CNBC in an interview. India had 238 listings in 2023, reaching a nine-year high with 614 billion Indian rupees ($7.35 billion), according to FactSet data.

Persons: Ola, Atul Singh, Singh Organizations: National Stock Exchange, BMI, LGT Wealth, Reliance, CNBC, Transportation, Hyundai Motor India, Insurance, Hyundai, Ola Electric Locations: Mumbai, India

☆ Hyundai: India’s biggest IPO could come from South Korean car manufacturer
▼ + stars: | 2024-06-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.

Persons: Maruti Suzuki, Narendra Modi, JP Morgan, Morgan Stanley, India’s Organizations: Hyundai, Maruti, Tata Motors, Securities and Exchange Board of India, EV, South, Benchmark, Citi, HSBC Locations: India, Mumbai, Korean, China, United States, Hyundai India

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