Reported 11 months ago
Banks advising Hyundai on its India IPO are expected to earn up to $40 million in fees, the country's second-highest fee pot ever for investment banks working on an IPO. The deal could see the South Korean parent raise $2.5-$3 billion, with banks like JPMorgan, Citigroup, and HSBC receiving 1.3% of the IPO size as fees. This potential $40 million payout represents a significant portion of India's total IPO fee income in 2023 and indicates a positive trend for investment banking in the country.
Source: YAHOO