Reported 5 months ago
Hyundai Motor Co. has added Kotak Mahindra Bank Ltd. and Morgan Stanley as advisers for a potential record-breaking IPO of its India unit, joining Citigroup Inc., HSBC Holdings Plc, and JPMorgan Chase & Co. The IPO, which could raise around $2.5 billion, is expected to be one of the largest ever in India. Hyundai Motor India Ltd. is planning to file for the IPO in June, with the listing potentially raising as much as $3 billion. The lineup of banks advising may still change, and final decisions on size and timing have not been made. If the IPO proceeds, Hyundai plans to use the funds to expand operations.
Source: YAHOO