Hyundai Motor Co.’s move to list its Indian subsidiary through an offer for sale appears opportunistic but does unlock value for the Indian operations in the long term.
Hyundai Motor Co. is planning to list its India unit in what may become the country’s biggest-ever initial public offering. This may turn out to be a once-in-a-lifetime event for India’s capital markets and the domestic car industry; the country’s second-largest carmaker going public is a big deal. The context to this listing is important. For the past many months, globally public markets and new listings have been subdued, with the Indian public market bucking the trend.
But there’s a catch. The IPO, if it goes through, will comprise solely an offer for sale of up to 142 million shares …
Ujval leads our Business vertical at The Morning Context. In a corporate career spanning 14 years, he has worked across startups, consulting firms, multinational corporations and large Indian companies, including India Infoline, ICICI, KPMG, Tata Steel and Jubilant Pharma. Ujval has been a freelance writer and trainer for eight years, with bylines in Forbes India and The Economic Times.
Editor, Business
ujval@mailtmc.com
Pune
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai