Skip to content
Search

Latest Stories

Hyundai to launch £2.52 billion India IPO next week

In the IPO, Hyundai plans to sell a 17.5 per cent stake in its India operations, which would value the business at £14.48 bn if priced at the top end of the range.

The logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. (Photo: Reuters)
The logo of Hyundai Motor India Limited is seen outside a car showroom, in Ahmedabad, India, October 7, 2024. (Photo: Reuters)

HYUNDAI will launch a £2.52 billion initial public offering (IPO) for its India unit next week, the company announced on Wednesday. This will be the largest stock market debut in India's fast-growing economy.

The price range for the shares has been set between £17.00 and £17.86 per share, according to the company's draft prospectus.


In the IPO, Hyundai plans to sell a 17.5 per cent stake in its India operations, which would value the business at £14.48 bn if priced at the top end of the range.

Bidding for the IPO is scheduled to begin on October 15, and reports suggest the shares will be listed on October 22.

This offering will surpass the 2022 listing of Life Insurance Corporation of India, where the government raised £2.06 bn by selling a 3.5 per cent stake.

"India is one of the most exciting auto markets in the world," Unsoo Kim, managing director of Hyundai Motor India, said during a press briefing in Mumbai.

Kim added, "We believe that now is the right time for us to take a step forward to further 'Indian-ise' our operations and become a home brand."

Hyundai's parent company will decide how the proceeds from the IPO will be used. However, Kim indicated that the automaker intends to invest "aggressively" in developing new products and strengthening research and development for its India unit.

Hyundai has been in India for over two decades, gaining popularity with its small cars and sedans. In recent years, the company has experienced strong demand for its sports-utility vehicle, the Creta.

Hyundai is one of the few foreign automakers to have found lasting success in India, where others like Ford and General Motors have struggled.

The company aims to tap into India's flourishing stock market, which has seen a surge in IPO activity in recent years, with companies raising billions from domestic and foreign investors.

(With inputs from AFP)

More For You

UK retailers

For many retailers, this has meant closing stores, cutting jobs, and focusing on more profitable business segments

Getty

6 UK retailers facing major store closures in 2025

In 2025, several UK retailers are experiencing major store closures as they struggle to navigate financial pressures, rising operational costs, and changing consumer behaviours. These closures reflect the ongoing challenges faced by traditional brick-and-mortar stores in an increasingly digital world. While some closures are part of larger restructuring efforts, others have been driven by financial instability or market shifts that have forced retailers to rethink their business strategies. Let’s take a closer look at six major UK retailers affected by these trends.

1. Morrisons

Morrisons, one of the UK's largest supermarket chains, is undergoing a significant restructuring in 2025. The company has announced the closure of several in-store services, including 52 cafés, 18 Market Kitchens, 17 convenience stores, and various other departments. This move is part of a larger strategy to streamline operations and address rising costs. Morrisons’ parent company, CD&R, has been focusing on reducing overheads and refocusing on core services.

Keep ReadingShow less
Starmer Trump

The UK is seeking an agreement with the US to remove Trump’s 10 per cent general tariff on goods and the 25 per cent tariff on steel and cars.

Getty Images

Industry warns Starmer: Strike deal with US or face factory job losses

FACTORY owners could begin laying off workers within months unless prime minister Keir Starmer secures a trade agreement with US president Donald Trump, MPs have been told.

Make UK, an industry lobby group, told the business and trade select committee that tariffs on British exports were reducing demand for UK-manufactured goods.

Keep ReadingShow less
British Steel halts layoffs after government rescue plan

Chancellor Rachel Reeves in the rail and sections hot end rolling mill during her visit to the British Steel site on April 17, 2025 in Scunthorpe, England. (Photo by Danny Lawson - WPA Pool/Getty Images)

British Steel halts layoffs after government rescue plan

BRITISH STEEL announced on Tuesday (22) it has halted plans to lay off thousands of workers after the government secured the raw materials necessary to keep the country's last steelmaking blast furnaces running.

The future of the plant was thrown into jeopardy in March when its Chinese owners Jingye said it was no longer financially viable to keep the blast furnaces burning, putting 2,700 jobs at risk.

Keep ReadingShow less
Sainsbury’s

The decision to cut jobs at head office will likely have a significant impact on the workforce

Getty

Sainsbury’s to cut 3,000 jobs and close 3 in-store services

Sainsbury’s has announced plans to cut 3,000 jobs across its operations, along with the closure of three key in-store services. The UK supermarket giant confirmed that the closures will impact its larger stores, with the patisserie, hot food, and pizza counters set to shut down by early summer.

As part of the changes, the most popular items previously sold at these counters will be relocated to other sections of the stores, ensuring customers can still purchase these products despite the closure of the dedicated counters. Additionally, Sainsbury’s will introduce new ‘On The Go’ hubs by autumn, offering hot food options to meet customer demand for convenience.

Keep ReadingShow less
Unsafe ‘energy-saving’ plugs still sold online despite safety concerns

Warnings about similar devices have existed for over a decade

iStock

Unsafe ‘energy-saving’ plugs still sold online despite safety concerns

Plug-in devices marketed as “energy-saving” products are still being sold across online marketplaces in the UK, despite being illegal and failing basic safety tests, according to a new investigation by consumer group Which?.

The study found that several of these cheap devices, often called “eco plugs” or “energy-saving plugs”, not only failed to deliver any energy-saving benefits but also posed potential risks such as fire or electric shock. Some of the products, priced as low as £5, were tested and found to be unsafe for household use.

Keep ReadingShow less