Finance Comic on June 12 : SEBI & Demat Accounts
Hyundai Motor India Ltd. is set for a major IPO, potentially the largest in India, aiming to raise $2.5-$3 billion and valuing the company at $25-$30 billion.
This IPO marks India's first carmaker public offering in over two decades. Hyundai, India's second-largest carmaker, seeks to enhance visibility, brand image, and liquidity.
The IPO involves an offer for sale of 142.2 million equity shares. Hyundai plans to focus on premium vehicles, increase EV market share, and strengthen its export hub position.
Reliance Jio Platforms, in partnership with SES, has received approval from India’s space regulator IN-SPACe to deploy satellite internet.
The approvals, granted to Orbit Connect India, enable the provision of high-speed satellite internet but require further clearances from the telecom department.
Other companies like Amazon's Kuiper, Elon Musk's Starlink, and Inmarsat are also pursuing similar permissions. With India’s satellite broadband market projected to grow significantly, this development marks a competitive shift in providing space-based internet services to rural areas globally.
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