Hyundai Motor India IPO gets approval from market regulator Sebi

Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation.  The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters. This would make it the first carmaker to go … Read more

Auto sales take fast lane in Dec; carmakers see double-digit rise in sales

Indian automakers replenished stocks before the new year, helping wholesale auto sales witness healthy growth. Inventory was lower than usual for passenger vehicles and tractors, leaving headroom for higher inventory filling in the coming months, industry executives said. They said spillover demand from the festive season and inventory refilling would drive demand for passenger vehicles … Read more