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‘Ready to export to new EV mkts if there is demand’
Business Standard
|October 10, 2024
All set to debut on Indian bourses, Korean-origin auto major Hyundai Motor India Ltd (HMIL) says its IPO will ensure the company is more “dedicated” to succeed in India. Speaking with Sohini Das and Samie Modak in Mumbai, UNSOO KIM, president, CEO and MD, WANGDO HUR, executive director and CFO, and TARUN GARG, whole time director and COO of HMIL outline their plans. Edited excerpts:
Why is Hyundai Motor looking to list in India?
Kim: This is one of the most fundamental questions and very crucial to us. India is one of the most exciting automobile markets in the world and Hyundai Motor India has been successful for 26 years, and currently we are the second-largest passenger vehicle maker in India. Therefore, we feel it is the right time to further "Indianise" our operations here and become a "home-brand" in India.
Our IPO will ensure that HMIL is even more dedicated to succeed in India. Also, we continue to pursue global standards in terms of governance. The IPO will provide a good opportunity for local and global investors to take part in our growth story.
When did the idea of doing an India IPO come?
Kim: Globally, Hyundai Motor Group (HMG) is the third-largest, and Hyundai Motor Corporation (HMC) has great business capabilities worldwide - R&D capability, brand power, and best practices. HMC's vision is to transport humanity and under that vision we started our operations in India in 1998. It is the right time now to go for an IPO.
What is the investor feedback on your valuation?
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