Mon Oct 14 06:02:30 UTC 2024: ## Hyundai Motor India Declares Record Dividend, Prepares for $3 Billion IPO

**New Delhi, October 13, 2024:** Hyundai Motor India Ltd, preparing for a record-breaking $3 billion IPO, has announced a special dividend of ₹13,270 per share, totaling ₹10,782.42 crore for FY24, making it the seventh Indian company to exceed ₹10,000 crore in dividend payouts. This significant increase reflects the company’s robust financial performance and commitment to shareholder value.

The dividend surpasses the ₹4,653.42 crore paid in FY23 and the ₹1,493.45 crore distributed in FY22. However, the large payout has resulted in a reduction of Hyundai’s cash and bank balances to ₹9,017.35 crore in FY24, down from ₹17,741.15 crore the previous year. The company acknowledges that this could potentially impact its ability to fund growth initiatives internally, potentially requiring borrowing, which could affect profitability and financial ratios.

Despite this, Hyundai Motor India, a subsidiary of the world’s third-largest automaker, Hyundai Motor Group, continues to hold its position as India’s second-largest passenger vehicle manufacturer since 2009. The company is renowned for its commitment to innovation, quality, and technology, boasting a diverse range of 13 models including sedans, hatchbacks, SUVs, and electric vehicles. Hyundai also manufactures crucial components like transmissions and engines for both its own vehicles and the market.

The company’s upcoming IPO, expected to be the largest in India, has a price range of ₹1,865 to ₹1,960. Subscription for large institutional investors opens on October 14, followed by retail and other investors from October 15 to 17.

Hyundai’s strong performance is reflected in its recent quarterly results. For the quarter ending June 2024, the company reported revenues of ₹17,344 crore, a growth from ₹16,624 crore in the same quarter the previous year. 76% of this revenue was generated from the domestic market, with exports contributing the remaining 24%. The company recorded a net profit of ₹1,489.65 crore for the quarter, a rise from ₹1,329.19 crore in the previous year.

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