Financial Daily from THE HINDU group of publications
Thursday, Jun 27, 2002
Financial Daily from THE HINDU group of publications Thursday, Jun 27, 2002 |
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Corporate
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IPOs Markets - IPOs Hyundai IPO plan put off Our Bureau
CHENNAI, June 26 HYUNDAIi Motor India Ltd, which had talked earlier of an initial public offering some time this year, has decided to put the proposal on the backburner. "We do not believe that the markets are in the right shape for an IPO. So, it is on the backburner," the company's President, Mr B.V.R. Subbu, said. The company originally thought that it would look at the possibility of an IPO during this fiscal, which had been given up now. The IPO, he said, was not linked to Hyundai Motor India's capital expenditure programme, which would be met through internal accruals.
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