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Tag: Hyundai

  • Hyundai IPO Sees Lukewarm Response From Investors On Day 1 | Companies News

    New Delhi: 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 company aims to raise up to Rs 27,870 crore, making it the largest-ever IPO of the Indian equity market history since 2022, when Life Insurance Corporation of India (LIC) raised Rs 21,000 crore.

    It is open till October 17, and the IPO price band has been fixed at Rs 1,865- Rs 1,960 per share.

    One lot of Hyundai Motor India’s IPO has seven shares. After the subscription window closes, the share allotment is expected to be finalized on October 18. The shares will be credited to demat accounts on October 21.

    Hyundai Motor India shares are likely to debut on stock exchanges on October 22. The maiden share sale will be a full offer for sale (OFS). This is the first offer from an automaker to list in India in over two decades and the entire proceeds will go to the promoter.

    Hyundai Motor India raised approximately Rs 8,315 crore from anchor investors on Monday, ahead of its IPO. The company allotted 4.24 crore shares at Rs 1,960 apiece to 225 anchor investors, according to the company statement.

    Hyundai Motor India held a 14.6 per cent market share in the domestic passenger vehicle (PV) market in Q1 FY25, second to Maruti Suzuki which has a 41 per cent share in this category. However, Hyundai Motor India is the market leader by volume in the mid-size SUV segment with around 38 per cent share as on June 2024.

    It is also India’s second-largest exporter of PV from April 2021 till June this year. In FY 2023-24, the company sold 7.77 lakh vehicles, of which 21 per cent was exported to countries like Africa, the Middle East, Europe and Latin America.

    Hyundai Motor India has 1,366 sales points and 1,550 service outlets in India. The company’s revenue in the financial year (FY) 2023-24 was Rs 69,829 crore. During this period, the company made a profit of Rs 6,060 crore and the company’s margin was 13.1 per cent.

    India’s second-largest carmaker’s revenue in the first quarter of FY 2024-25 was Rs 17,344 crore. During this period, the company made a profit of Rs 1,489 crore and the margin was 13.5 per cent.

  • Hyundai Motor, Kia EVs Receive Top Ratings In Major Global Crash Safety Tests | auto news

    Seoul: 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.

    According to the companies, five Hyundai and Kia EV models utilizing the E-GMP, Hyundai Motor Group’s proprietary EV platform, achieved the highest rating of five stars in the European New Car Assessment Programme, reports Yonhap news agency.

    The models are the Genesis GV60, Hyundai’s Ioniq 5 and Ioniq 6, and Kia’s EV6 and EV9. The same models also received top-tier ratings in crash evaluations conducted by the Insurance Institute for Highway Safety (IIHS) in the United States.

    The GV60, Ioniq 5, Ioniq 6 and EV6 were awarded the prestigious Top Safety Pick (TSP) Plus rating, while the EV9 earned the Top Safety Pick rating, indicating high levels of safety.

    In last year’s IIHS crash evaluations, 20 Hyundai Motor Group vehicles achieved TSP or higher ratings, marking the highest number among global automotive groups. The recently launched Kia EV3, which also utilizes the E-GMP platform, has not yet undergone safety evaluations in Europe and the US.

    “Hyundai Motor Group will continue to invest significant efforts in research and development to ensure the highest level of safety for passengers in all aspects,” a group official said.

    Meanwhile, automotive companies in South Korea are pushing forward with their new electric vehicle launch schedules despite public concerns over EV safety, with key players actively campaigning to debunk unsubstantiated myths surrounding safe charging practices.

    The latest fears surrounding EVs began after a spontaneous fire that began in a parked Mercedes-Benz EV wiped out an entire underground parking garage inside an apartment complex in Incheon, 27 kms west of Seoul, while damaging over 100 cars.

    Hyundai Motor and Kia said that their EV batteries are designed to be safe even when charged to 100 per cent, with the internal battery management system monitoring and controlling any issues that may arise.