- Bloomberg
India’s Busy IPO Queue for Second Half Goes Beyond Hyundai Unit
(Bloomberg) -- Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic powerhouse, and the billionaires and businesses behind its rise, delivered weekly.Most Read from BloombergSupreme Court Poised to Allow Emergency Abortions in IdahoBolivia’s President Arce Swears in New Army Chief After Coup BidSpaceX Tender Offer Said to Value Company at Record $210 BillionChina’s Finance Elite Face $400,000 Pay Cap, Bonus ClawbacksYouTuber Dr Disrespect Was All
- Reuters
Exclusive-Hyundai India IPO banks set for country's 2nd biggest payday with $40 million fee, sources say
Banks advising South Korean automaker Hyundai on its India IPO are set to make as much as $40 million in fees, three sources said, a windfall in a market where banks typically struggle to make money given cost-conscious clients and fewer big deals. That would be the second-highest fee pot ever for investment banks working on an initial public offering (IPO) in India and it comes amid a sharp surge in equity deals in the country, making it a bright spot in an otherwise dull Asia. Hyundai Motor's India unit this month filed for regulatory approval for a listing, which could be the nation's biggest and will see the South Korean parent raise around $2.5-$3 billion at a valuation for the unit of up to $30 billion.
