South Korean carmaker Hyundai Motor Company (HMC) will divest ₹27,856 crore worth of shares through the maiden share sale of its domestic arm, Hyundai Motor India (HMIL), setting the stage for India!s biggest initial public offering (IPO).
India's second-largest passenger Vehicles firm will be Valued at ₹1.59 trillion at the top-end of the price band of ₹1,865-₹1,960. The IPO will remain open between October 15 and October 17.
Around ₹8,315 crore worth of shares reserved for anchor investors will be allotted on October 14. Investment banking sources said there was already over 3x more demand than shares on offer in the anchor book, with marquee global names, such as Abu Dhabi Investment Authority, Amundi, Singapore's GIC, Fidelity, and Black Rock, likely to participate.
Among domestic mutual funds, most of the large fund houses that include SBI MF, HDFC MF, ICICI Prudential MF, Axis MF, and Nippon India MF are also likely to bid for shares.
Esta historia es de la edición October 10, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición October 10, 2024 de Business Standard.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Record 2,509 stocks flashing red in Feb
BSE's advance-decline ratio now at 0.77, near Covid lows
SBI eyes ₹10 trn housing loan book by March '27
Having touched a housing loan book of ₹8 trillion, State Bank of India (SBI) the country's largest lender - now expects to grow its mortgage book to ₹10 trillion by March 2027.
UK announces 17 new export, investment deals
The UK on Wednesday said its Trade Secretary Jonathan Reynolds and Investment Minister Poppy Gustafsson announced 17 new export and investment deals during their visits to India this week.
Rural India spending more time on learning activities
Both urban, rural saw a decline in learning time in 2024
Australia unveils $16 mn outlay to boost trade ties with India
The Australian Prime Minister Anthony Albanese on Wednesday unveiled a new road map to bolster economic ties with India, describing it as an attempt to find paths towards a better future for both sides.
Maha Kumbh ends with 650 mn attendees
The 45-day Maha Kumbh Mela, formerly known as Purna Kumbh, concluded in Prayagraj on Wednesday. Maha Kumbh began on January 13 on the occasion of Makar Sankranti.
Airfares to rise up to 1.5% if tariff proposal accepted: DIAL CEO
Ticket prices of passengers travelling to and from Delhi airport will rise by no more than 1.5 per cent if the Airports Economic Regulatory Authority (AERA) approves the tariff proposal submitted by Delhi International Airport Limited (DIAL), the latter's chief executive officer (CEO) Videh Kumar Jaipuriar said on Wednesday.
Navi Mumbai airport may open in April; domestic flights from May
The Navi Mumbai International Airport (NMIA) is expected to be inaugurated in the second week of April, with domestic commercial operations set to begin in May.
India hosts 2-day conference on women peacekeepers from 'Global South'
India hosted a two-day conference on women peacekeepers from the “Global South” in New Delhi earlier this week.
NCLT sets March 12 deadline for RCap ownership transfer
The National Company Law Tribunal (NCLT) has directed lenders and the monitoring committee to resolve all procedural issues by March 12 for the ownership transfer of debt-ridden Reliance Capital (RCap) to IndusInd International Holdings Limited (IIHL).
