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IPO aimed at further localising India operations: Hyundai Motor India COO
The upcoming Rs 27,870 crore initial public offering of the Indian arm of South Korean automaker Hyundai, the first such instance of the company listing its subsidiary in an overseas market, is aimed to further Indianise operations, a senior company official said on Friday.
Hyundai Motor India Ltd's initial public offering (IPO), the largest in the country's history, will open for public subscription on October 15 and conclude on October 17. Anchor investors will bid on October 14.
"We have been in India now for more than 26 years. We have a very high market share. We are at number two position in India in the passenger vehicle space. We have got so much love and affection from the people of India. So we believe this is the right time to take one step forward and even further Indianise our operations," Hyundai Motor India Ltd (HMIL) COO Tarun Garg told PTI.
He further said," The whole aim is to really become the most trusted brand of India."
Garg was responding to a query behind
