Hyundai to pay $40mn fee to banks advising on India IPO, 2nd biggest payday

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Hyundai to pay $40mn fee to banks advising on India IPO, 2nd biggest payday - Business Standard

Quick Summary:

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.

That translates to $40 million for a single deal at the top end of the deal size, making it the second best payday for banks after Indian fintech firm Paytm's 2021 IPO yielded $44 million for its seven advisers, Dealogic data shows.

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.