It is nearly 20 years since India saw a carmaker getting listed on the stock exchange, and this time, it is a South Korean automaker Hyundai Motor India.

The automaker aims to raise upto INR 278 billion by offloading 17.5 percent stake at a price band in the range of INR 1,865 to INR 1,960 per share.

The issue will be available for subscription between 15 October to 17 October, 2024.

This will also make it the largest IPO (Initial Public Offering) in India till date, surpassing Life Insurance Corporation of India’s INR 210 billion IPO that debuted in May 2022; and the biggest IPO listing for 2024 in the world.

Hyundai Motor India, will become the latest automaker in India to debut on the stock exchange, after Maruti Suzuki India’s debut in 2003.

What’s interesting to note is that the funds raised by the company’s parent company Hyundai Motor Group, which then is expected to re-invest the funds in the company, but the exact quantum and timeline has yet to be clarified.

The IPO comes at a time when the Indian stock market is seeing huge traction with lot many new companies entering the foray. Hyundai Motor Group sees India as a huge growth market, that not only contributes to 6 percent of the company’s global revenues but also acts as a leading exporter for the Asian market.

The company has company a long way since it first introduced the Santro hatchback in 1998 and has made a prominent name for itself as the second largest car maker in India for over two decades, and the largest passenger vehicle exporter.

In FY2024, the company reported wholesales of 777,876 units, which marks 13 percent CAGR growth over FY2022 and FY2023; similarly, the average selling price has increased from INR 666,455 to INR 771,840; FY2024 revenue growth of 47 percent over FY2022 and net income growing from INR 29,016 million to INR 60,600 million in FY2024 respectively.

Hyundai Motor India aims to deploy the new funds (potential investment from Hyundai Motor Group) towards building new products, investment in new technologies and R&D in the country.

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Maruti Suzuki India has announced that cumulative exports of its Fronx model have passed 200,000 units in under 38 months following the commencement of overseas shipments in June 2023.

Manufactured at the company's Hansalpur plant in Gujarat, the SUV is exported to nearly 90 markets, including Japan. The Fronx reached its initial 100,000 export milestone within 25 months, with the subsequent 100,000 units shipped over the following 13 months.

Hisashi Takeuchi, Managing Director and Chief Executive Officer, Maruti Suzuki India, said, “Every vehicle exported by Maruti Suzuki carries the hard work and pride of our people. Together, these vehicles take a piece of Indian manufacturing to nearly 120 countries. Fronx has been a key contributor to Maruti Suzuki’s success in exports. Since FY 24-25, it has been India's No. 1 exported passenger vehicle* and is now shipped to nearly 90 countries. After crossing the milestone of 100,000 exports in record time, Fronx reached its second lakh significantly faster, underlining its growing demand in the international markets.”

“Aligned with ‘Make in India, Make for the World’, Maruti Suzuki continues to showcase the prowess of India’s manufacturing ecosystem. Sustained focus on exports has earned the Company the number one position in passenger vehicle exports from India*. Illustrating this leadership, all three of India’s top exported passenger vehicles in Q1 FY 26-27^ were from Maruti Suzuki. The growing export volumes year-on-year are a strong endorsement of the reliability and appeal of the Company’s products across global markets,” added Takeuchi.

The Fronx remains the company's primary export model within its passenger vehicle lineup, supporting its total export volume across international regions.

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Stellantis-owned Jeep India has launched the Jeep Compass 85th Anniversary Edition, limited to 85 units at prices starting at INR 2.67 million (ex-showroom).

The anniversary edition incorporates visual updates to the exterior and interior of the vehicle platform. External changes include 18-inch alloy wheels finished in gloss black alongside anniversary badging. The interior cabin features a black colour scheme paired with gold accents and contrast trim detailing.

Kumar Priyesh, Business Head and Director of Automotive Brands, Stellantis India, said, "The Jeep Compass has always been central to the Jeep story in India, bringing the brand's legendary capability, design and authenticity to customers who expect more from their SUV. As Jeep celebrates 85 years globally, the Compass 85th Anniversary Edition gives this iconic nameplate a distinctive new expression. With exclusive anniversary-inspired styling, curated accessories and safety technologies, this special edition has been crafted for customers who seek a Compass that feels even more personal, intelligent and exclusive."

The vehicle is offered with optional accessory packages under the brand's personalisation options. These packages add functional and cabin features, including sunroof illumination, ambient lighting, a digital inner rear-view mirror and integrated front and rear dashcams. Bookings for the limited-run vehicle have opened across the company's dealership network and online sales platform.

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German luxury car brand Mercedes-Benz India has opened its new sales facility in Lucknow in partnership with dealership operator T&T Motors. The outlet expands the company's network in Uttar Pradesh to 10 touchpoints across cities including Lucknow, Noida, Ghaziabad, Agra, Kanpur and Varanasi, contributing to a national presence of over 150 locations across more than 60 cities.

The new facility occupies 9,000 square feet, including over 5,000 square feet of carpet area and was completed in five months. The showroom accommodates four vehicle display bays, private and semi-private consultation zones, a lounge section for vehicle lines and a dedicated delivery bay. To support battery electric vehicles, the location incorporates a 180 kW DC fast charger with two charging bays, backed by a staff of 88 employees.

Brendon Sissing, Vice-President of Sales and Marketing, Mercedes-Benz India, said, “Mercedes-Benz continues to strengthen its luxury retail footprint across India, reflecting our ‘Go to Customer’ strategy. The inauguration of T&T Motors’ new facility in Lucknow marks yet another important milestone in bringing world-class luxury products, services and experiences closer to our customers. Uttar Pradesh remains an important emerging market for Mercedes-Benz, and the growing aspiration for luxury mobility in Lucknow presents strong growth potential for Mercedes-Benz. Through modern luxury infrastructure, personalised consultations, digital capabilities and EV readiness, we are elevating luxury retail experience for our discerning customers in the city.”

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Mumbai-headquartered automotive major Mahindra & Mahindra has unveiled its first global pick up christened Lifestyler, which will be launched in India as the Mahindra Scorpio Lifestyler. The vehicle will go on sale by April 2027 with prices starting below INR 1.97 million ex-showroom. 

First shown as a concept in Cape Town, South Africa, in August 2023, the pickup was designed at the Mahindra India Design Studio in Mumbai and developed at Mahindra Research Valley in Chennai. It is built on Mahindra’s next-generation body-on-frame architecture and is intended for both payload and lifestyle use. The company claims to have around 267 patents in terms of innovation for the Lifestyler.

Dr Velusamy R, President, Automotive Business, Mahindra & Mahindra, said, “From the outset, our vision was to create a world-class global pickup that raises the bar for the segment while remaining true to Mahindra's strengths in authentic capability and value. The Scorpio Lifestyler is a testament to the strong product development capabilities at Mahindra Research Valley (MRV). Built on our advanced next-generation body-on-frame architecture, it has been engineered to deliver the capability, durability, safety and refinement demanded by customers around the world.”

Pratap Bose, Chief Design and Creative Officer, Mahindra & Mahindra, said, “The Scorpio Lifestyler is inspired by how our customers work, play and explore. Combining bold exterior design, plush interiors and SUV-like comfort with unmistakable Mahindra toughness, it brings style and refinement to every journey. This philosophy is reflected in the three editions showcased today: Valley celebrates purposeful refinement, Reef embodies freedom and exploration, and Trail captures the spirit of boundless adventure. Together, they express our vision of a pickup that celebrates individuality while remaining rooted in capability, authenticity and the freedom to explore without limits.”

Nalinikanth Gollagunta, CEO, Automotive Division, Mahindra & Mahindra, said, “The Scorpio Lifestyler represents the convergence of global engineering and evolving customer aspirations. As we prepare for its India launch, we see a growing appetite among customers for a vehicle that delivers authentic capability without compromising on technology, safety, comfort or everyday usability. We are investing in building awareness, strengthening our network and creating the right ownership experience for this category. We believe the Scorpio Lifestyler has the potential to redefine expectations and shape the future of the pickup segment in India.”

While the technical details are still under the wraps, the company showcased three editions - the Valley Edition finished in Artemis Grey, the Reef Edition uses an Aquareef finish and the Trail Edition finished in Sahara Beige.

The Mahindra Lifestyler is aimed at the midsize lifestyle pickup segment in Australia and New Zealand, South Africa, Africa, the Middle East and Latin America. It has been developed to meet requirements for capability, durability, safety, technology and everyday use across those markets.

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