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Imagine a bustling jewellery market teeming with diamonds and gold. Amidst this glittering chaos, a small stall is trying to sell handcrafted gemstones. Even as newer and shinier outlets keep cropping up, all vying for attention, this gemstone store offers some of the oldest yet valuable jewels at a discount. Though they lack immediate sparkle, these rare gems reveal their value to the discerning buyer. This is how South Korea appears for many experts in global capital markets: a trove of undervalued gems, overshadowed by brighter, more aggressively marketed investment options. This undervaluation, known as the "<keyword id="24399183" type="General" weightage="20" keywordseo="korean-discount" source="keywords">Korean Discount</keyword>," reflects how South Korean companies are priced much lower than their global peers despite robust fundamentals — strong financial performance and consistent profitability. Contributing factors are many, ranging from opaque governance structures to geopolitical risks. But the fact stays, if you are a seasoned conglomerate listed in South Korea, you are likely undervalued. <keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Ltd. (HMIL), a subsidiary of the Korean giant Hyundai Motor Company (HMC), recently sought to escape this valuation trap by listing in India, a market where investor optimism commands premium pricing. But its valuation raised many eyebrows! Now that a month and a half has gone by since its listing, time is apt to examine if this gamble paid off. Will <keyword id="93460" type="General" weightage="100" keywordseo="hyundai-india" source="Orion">Hyundai India</keyword> justify its high valuation? Or does the listing highlight broader questions about the overheated valuation dynamics of Indian markets? A record-breaking <keyword id="19898327" type="General" weightage="20" keywordseo="ipo" source="keywords">IPO</keyword> but questions remain Hyundai Motor India’s mega Initial Public Offering (IPO), launched in October 2024, broke records by raising ₹27,870 crore, making it India’s largest-ever IPO. The offer was oversubscribed by 2.37 times, highlighting robust demand. But many investors remained sceptical: was this IPO an honest attempt to expand Hyundai’s footprint in India or was it trying to offer a way to cashout for existing investors and promoters? Or perhaps, is it an attempt by the Korean chaebol — a large family-owned business conglomerate — to break free from the aforementioned “Korean Discount”? When shares listed on October 22, these concerns seemingly weighed on the minds of most investors and the stock promptly dipped 5% below the issue price on the day. A tepid grey market performance had already foreshadowed this muted debut in the Indian markets. Now, after almost 35 trading sessions on Indian market, the stock remains almost exactly at price it listed on October 22 at Rs 1820—no gain, no loss. <h3>The gamble of hyper-valuation</h3>Much of this hesitation stemmed from Hyundai’s valuation. On listing, Hyundai was valued at $18 billion, positioning it as one of India’s most valuable automotive companies. However, such high valuations often temper investor enthusiasm, resulting in more cautious short-term outcomes. For most investors, the Price-to-Earnings (P/E) ratio is the most preferred parameter to gauge if a company is overvalued or undervalued. With a P/E ratio of 26.3, HMIL was priced significantly above the Indian automotive industry average of 24.4. Globally, automotive companies operate with much lower P/E ratios, reflecting mature market conditions and slower growth trajectories. HMIL’s South Korean parent Hyundai Motor Company (HMC) trades at a meagre 3.07, believe it or not! For Indian investors, the high premium hinted at overvaluation despite Hyundai’s strong domestic position. Such stark difference in valuation obviously sparked debates — is the Indian market assigning a premium to Hyundai Motor India’s growth potential, or is it simply reflecting the general exuberance around the prospects of the Indian economy? Another concern is the allocation of IPO proceeds. Hyundai’s IPO was structured as an offer for sale (OFS), meaning all funds raised would flow to the parent company rather than Hyundai India’s operations. Although Hyundai has committed to investing in R&amp;D for EVs and hybrids, critics argue that the lack of immediate reinvestment in India’s operations reflects a missed opportunity for domestic growth. Despite the early disappointment, Hyundai was confident that the valuation was fair. It did have some factors going for it, in addition to the fact that other auto giants like Mahindra &amp; Mahindra and <keyword id="19909974" type="General" weightage="20" keywordseo="maruti-suzuki" source="keywords">Maruti Suzuki</keyword> command even higher P/E ratios. And looking at the company fundamentals, it does seem like Hyundai is playing a long-term game. <h3>Hyundai in India: A proven track record</h3>Despite the initial stumble, Hyundai India’s long-term story is compelling. Since entering the Indian market in 1996, the automaker has sold over 8 million vehicles and firmly occupies the second spot in the domestic passenger vehicle market, trailing only Maruti Suzuki. Hyundai’s blockbuster SUV offerings, like the Creta and Venue, have been critical in building this dominance. Despite some challenge from Maruti Suzuki Brezza and Tata Punch, Creta has retained the tag of ‘most-selling SUV in India’ successfully so far this year. <div type="image" title="Hyundai" agency="Business Insider India" msid="116156234" hostid="261" caption="&amp;lt;p&amp;gt;Selling over 17,000 units per month on average this year, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva)&amp;lt;/p&amp;gt;"></div> Selling over 17,000 units per month on average, Creta has edged past major competitors to be the most-selling SUV in India in 2024. As Indian consumers preference continues to shift gradually towards premium products over budget segments, Hyundai stands to benefit (Wikimedia Commons / Canva) Hyundai India’s market share of 14% in October 2024 underscores its clout. The company’s ability to tap into India’s premiumisation trend, where consumers increasingly prefer high-end vehicles, positions it well for growth. With plans to expand in electric vehicles (EVs) and hybrid technology, Hyundai is poised to capitalise on both domestic demand and export opportunities. The company’s ability to capitalize on its strong brand, extensive dealer network, and leadership in segments like SUVs and exports will determine its future performance. Hyundai’s strategic focus on expanding electric vehicle production also aligns with global trends towards sustainability, potentially positioning it as a leader in the segment. By listing in India, Hyundai aims not only to expand its operations but also to make India a global manufacturing and export hub for its products, especially SUVs and EVs. Therefore, despite early setbacks, Hyundai’s gamble seems to have paid off. The stock has rebounded, gaining 5% in the past month. More good news came in this week, as positive projections from Morgan Stanley and JPMorgan forecast an impressive 17-28% upside for the stock over the next year, reflecting growing investor optimism. <h3>A strategic pivot from the Korean Discount?</h3>The Korean Discount has long plagued South Korea’s chaebols, including Hyundai. Experts attribute this to several factors: <ul> <li>Chaebol Governance: South Korea’s conglomerates, known as chaebols, are often criticised for opaque governance structures and excessive family control.</li> <li>Geopolitical Risks: Tensions with North Korea contribute to investor caution, adding a layer of perceived risk.</li> <li>Limited Domestic Liquidity: South Korea’s relatively small investor base can constrain market activity and valuation potential.</li> </ul> By listing in India, Hyundai sought to unlock better valuations for its subsidiary, leveraging the optimism of Indian markets. India’s stock market has a trailing P/E ratio of 24.4, far above South Korea’s Kospi average of 16-17. The Indian market’s appetite for high-growth stories provides a fertile ground for companies like Hyundai to escape the valuation constraints of their home market. A successful IPO could encourage other such conglomerates to follow suit, setting a precedent. While Hyundai India has a robust track record, its future success hinges on navigating key challenges: <ul> <li>Supply Chain Vulnerabilities: Hyundai relies heavily on its Chennai plant, making it vulnerable to disruptions.</li> <li>Intensifying Competition: Domestic rivals like <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords">Tata Motors</keyword> and MG Motors are making aggressive inroads into the EV market.</li> <li>Policy Risks: The automotive sector’s reliance on government incentives for EVs and hybrids adds a layer of unpredictability.</li> </ul> High valuations come with risks. Hyundai will need to prove that it can sustain its growth trajectory in India, fend off competition from established players like Maruti Suzuki and Tata Motors, and navigate challenges such as supply chain disruptions and regulatory hurdles. If Hyundai successfully capitalises on its strong brand and market leadership, it could not only redefine its value but also serve as a case study for other Korean companies seeking better recognition and valuations in global markets. <h3>Is Hyundai saga a reflection of overheated Indian markets?</h3>The bigger question here is, does Hyundai’s IPO highlights a broader narrative about Indian markets’ premium valuations? With a trailing P/E ratio of 24.4, Nifty 50 index is among the highest in emerging markets. India’s stock markets consistently command a premium due to robust retail participation, strong economic growth prospects, and a burgeoning middle class. While this premium reflects optimism about India’s long-term growth story, it also signals potential risks of overvaluation, particularly in sectors like technology, automotive, and consumer goods. With a record ₹94,017 crore outflow by Foreign Portfolio Investors (FPIs) in October 2024, concerns about overheated valuations are mounting. Sustaining such unprecedented valuations required companies to consistently perform above global averages, and retaining robust earnings growth quarter after quarter remains a challenge in today’s uncertain world. For Hyundai, the high valuation is both an opportunity and a risk. While it underscores investor confidence, it narrows the margin of safety, making the stock vulnerable to corrections during economic downturns. Take for example, the high-profile IPO of Life Insurance Corporation of India (LIC) that raised over ₹21,000 crore. Its listing was met with disappointment as the stock began trading at a 9% discount to its issue price, and subsequent performance has remained subdued. LIC’s post-IPO journey also highlights how inflated valuations can lead to long-term underperformance, as the stock gave only 12% return over the past 30 months when even the Nifty 50 index went up by over 44%. This happens when when the company's growth narrative fails to align with its pricing. Despite being a household name with a dominant market share, LIC's stock has struggled to meet expectations, partly due to concerns about its operating efficiency and the limited use of IPO proceeds for growth initiatives. Make no mistake, Hyundai Motor India’s IPO is a landmark event! It showcases the potential for Korean companies to leverage emerging markets like India for better valuations. It also shows that strong fundamentals can help justify a company such premium valuations even amidst bearish economic prospects. However, it also serves as a cautionary tale about the risks of overvaluation. For Hyundai, the next steps involve proving its long-term growth story, navigating competitive challenges, and maintaining investor confidence. For Indian markets, Hyundai’s IPO underscores the need to balance optimism with realistic expectations as they continue to evolve as global investment hotspots. To sustain the country’s economic narrative as a land of unmatched opportunities, corporate India must work on improving long-term fundamentals and mitigating long-term risks. As global investors watch closely, Hyundai India’s success or failure could shape how international companies view India as a listing destination in the years to come.

Tackling the 'Korean Discount': A deep dive into curious case of Hyundai Motor India's market listing

<ul><li><keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Limited is set to debut in India's stock market.</li><li>The IPO will open on October 15, making it the first car company in over two decades to go public in India.</li><li>Here’s everything you need to know about the South Korean automaker ahead of its IPO.</li></ul> Hyundai Motor India Limited, the Indian arm of South Korean automaker Hyundai Motor Company is all set to make its stock market debut in India as its initial public offering (IPO) opens on October 15. This will be the first market outside South Kores where the country is listed. Hyundai, which entered the Indian market in 1996 is one of the top automakers in India, moving between the second and third spots. The company emerged as the second biggest automaker in Hyundai. Since it entered the Indian market, the company has sold over 80 lakh cars in the country. Hyundai intends to establish India as a global manufacturing and export hub for the company and this might be an initial step in this direction. KFin Technologies is the registrar for the public issue and advisors for the issue include Kotak Investment Banking, Citi, HSBC, JP Morgan and Morgan Stanley. <h2>India’s biggest IPO</h2>Hyundai India is looking to raise ₹27,870 crore from the IPO, significantly higher than the ₹21,008 crore raised by the state-owned Life Insurance Corporation of India (LIC) in 2022, making it the biggest IPO in India’s history. <div type="Article" hostid="261" msid="111690863" title="The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds" mstype="2" mssubtype="0"></div> <h2>About the IPO</h2>The upcoming IPO from Hyundai is entirely an offer for sale (OFS), with the company looking to offload up to 17.5% of shares, which is 14.22 crore shares with a price band of ₹1865 to ₹1,960 per share. Bids can be made in a lot size of 7 shares or multiples of 7 shares. The IPO opens on October 15 and will close on October 18. While the allotment will be finalised on October 18, the shares will be listed on the stock exchange on October 22. At the upper end of the price band, Hyundai Motor India will be valued at $18 billion (approx. ₹1.6 lakh crore), which is around 40% of its parent company, Hyundai Global’s $45 billion valuation. As it is entirely an OFS, the company won’t receive any funds and all the funds raised will go to Hyundai Global. However, the company has said that part of the funds will be allocated towards research and development, especially in electric vehicles (EVs) and hybrid technologies. The company has reserved 7.78 lakh shares with a value of ₹131 to ₹138 crore for employees. Employees will get these shares at a discount of ₹186 per share. <h2>First carmaker in over two decades to go public</h2>In addition to being the biggest IPO in the country’s history, this will also make the company the first car maker to go public in India in over two decades. The last car maker to go public was Maruti Suzuki, which held its IPO in 2003. <div type="Article" hostid="261" msid="114120828" title="The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?" mstype="2" mssubtype="0"></div> With the IPO, the company will join other car makers such as Maruti Suzuki, Tata Motors and Mahindra &amp; Mahindra to be listed in the Indian stock market. <h2>Hyundai in India</h2>The Indian market contributes to around 15% of the company’s global sales and is the third biggest market for the company after the United States and South Korea. The company has already invested around $5 billion in the country and plans to invest an additional $4 billion over the next few years. Company’s financials <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period ended </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">PAT </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-22 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹47,966.05 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,901.59 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-23 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61,436.64 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,709.25 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-24 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,302.33 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,060.04 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">June-24 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,567.98 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,489.65 </td></tr></tbody></table> Amount in ₹ crore Hyundai recorded a revenue of ₹71,302.33 crore in FY24, up from ₹61,436.64 crore in FY23 and ₹47,966.05 crore in FY22. During the 3-month period from April to June 2024, the company earned a revenue of ₹17,567.98 crore. The company recorded a profit after tax (PAT) of ₹6,060.04 crore in FY24, up from ₹4,709.25 crore in FY23 and ₹2,901.59 crore in FY22. The company recorded a PAT of ₹1,489.65 crore from April to June 2024. “Hyundai Motor India is seeking a slightly higher premium to Maruti and lower to M&amp;M based on price earnings ratio while Hyundai stands to be expensive in terms of price to book value. Hyundai India justifies its premium ask considering its leadership in SUV sales, world-class brand image followed by better safety ratings, Multi-segment growth visibility largely been driven by its popular SUVs, particularly the Creta, Exter, and Venue models in the Indian market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. <h2>Hyundai paid ₹10,780 crore dividend in FY24</h2>Ahead of the IPO, Hyundai paid a ₹10,780 crore dividend in FY24, up from ₹4,653.42 crore dividend in FY23 and ₹1,493.45 crore dividend in FY22. With this, the company’s cash and bank balance has declined from ₹17,741.15 crore a year ago to ₹9,017.35 crore. <div type="Article" hostid="261" msid="113925972" title="September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors" mstype="2" mssubtype="0"></div> “As a result, our ability to utilise our internal accruals and cash and bank balances has been reduced. Any resultant insufficiency in our internal accruals and cash and bank balance may require us to borrow money to meet our growth requirements and incur borrowing costs, which may adversely impact our profitability, financial ratios and results of operations,” the company said in its Red Herring Prospectus (RHP). <h2>Declining grey market premium</h2>Grey market premium (GMP) is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. In essence, it is the premium above the issue price of a share. The GMP of Hyundai has been on a decline, from ₹570 around two weeks ago to ₹130. <h2>Key risks to remember</h2>Here are some of the key risks that the business faces: <h3>Rising part prices</h3>There has been an increase in prices of key vehicle parts over the years, especially chipsets. A further rise in price may impact the company’s profitability in the coming years. <h3>Production disruptions</h3>The company has said that any disruption to its Chennai plant will adversely impact the production and the company’s finances. <h3>Supplier dependency</h3>Another risk to keep in mind is the company’s dependency on its suppliers. Any disruption in its supply chain will adversely impact its production and profitability. <h3>Competition</h3>Hyundai alternates between the second and third position in the Indian car market. An increase in competition, with the increased sales of Mahindra and Mahindra, the company faces a new competitor. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-leads-the-first-phase-of-festive-sales-with-a-20-market-share/articleshow/114070723.cms">Samsung leads the first phase of festive sales with a 20% market share</a>

Hyundai IPO review – Everything you need to know about India’s biggest IPO

<ul><li>Automakers have announced <keyword id="22387426" type="General" weightage="100" keywordseo="discounts-on-cars" source="keywords">discounts on cars</keyword> in India for a limited period.</li><li>The discounts have likely been announced due to an inventory buildup and slowdown in sales.</li><li>Here are some of the best discounts announced on cars that you can avail.</li></ul>If you are considering purchasing a car for yourself or someone in your family, now is a great time to do so. Monsoon is here and this time around, it is raining discounts on cars. Several major automakers, such as Maruti Suzuki, Tata Motors, Mahinda and others have announced discounts across a wide range of cars. The reason for the discount ranges from a slowdown in sales to massive inventory buildup, and more. <h2>Maruti Suzuki</h2>Maruti Suzuki, India’s largest automaker has also announced a slew of discounts on cars such as the Jimny, Baleno, Grand Vitara and more. The Jimny, which has had poor sales has received the highest discount at up to ₹1.75 lakh for the Zeta variant and up to ₹1.8 lakh for the Alpha variant. Baleno, one of the company’s most popular hatchbacks has been discounted by ₹35,000 to ₹40,000, depending on the variants. The AMT variant has received the highest discount. The Grand Vitara SUV has received a discount of ₹55,000 for its hybrid variant, while its other variants have been discounted by up to ₹30,000. The company’s latest offering, the Fronx has also been discounted by up to ₹35,000. <h2>Tata Motors</h2>Tata Motors has announced that its popular EV, the Nexon EV will be available with a discount of up to ₹1.3 lakh. The Nexon EV Empowered+ has received the highest discount, while other variants of the car have been discounted by up to ₹60,000. The company’s affordable electric SUV, the Punch EV has also been discounted between ₹10,000 to ₹30,000 based on variants. The company’s premium SUVs, the Safari and Harrier are also available with discounts of up to ₹1.3 lakh. <h2>Hyundai</h2>Hyundai, one of the top automakers in the country has also announced discounts. The company’s popular hatchback i20 is available with a discount of up to ₹30,000 and an additional exchange bonus of ₹10,000. The Verna sedan is being sold with a discount of up to ₹20,000 and an exchange bonus of ₹15,000. The premium SUV from the company, Tucson is being offered with a discount of up to ₹2 lakh, which varies on the model. <h2>Mahindra</h2>Mahindra and Mahindra has officially announced a price cut for its premium XUV700’s AX7 range. It will now be available starting at ₹19.5 lakh (ex-showroom), after a price cut of ₹2 lakh. <h2>MG Motor</h2>MG Motor has announced a discount of up to ₹75,000 on the MG Hector, along with a bonus of ₹55,000. The MG ZS EV is available with a discount of up to ₹1.5 lakh while the premium Gloster SUV is being offered with a discount of up to ₹2 lakh. Disclaimer: The discounts being offered may vary from state to state and are subject to change. The discount may be reduced or you may even get a higher discount, depending on the company and the showroom. Contact the showroom near you to know the exact offers applicable for your car. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms">Upcoming cars launching in India in July 2024</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-gets-sebi-approval-for-5500-crore-ipo/articleshow/111141404.cms">Ola Electric gets SEBI approval for ₹5,500 crore IPO</a> <a href="https://www.businessinsider.in/tech/mobile/news/oppo-reno-12-and-reno-12-pro-smartphones-launched-in-india-starting-at-32999/articleshow/111682974.cms">Oppo Reno 12 and Reno 12 Pro smartphones launched in India starting at ₹32,999</a>

It’s raining discounts – Maruti Suzuki, Hyundai, Tata Motors and others offer discounts on cars as sales slowdown

RateGain, Shriram, MapmyIndia and more — Check out the important dates of these upcoming IPOs and their grey market premiums

<ul><li>This year’s initial <keyword id="19894908" type="General" weightage="20" keywordseo="festive-season" source="keywords">festive season</keyword> has been good for smartphone makers, with an 11% increase in sales.</li><li><keyword id="19897758" type="General" weightage="20" keywordseo="Samsung" source="keywords" meta.keywordsubtype="org" meta.entityname="Samsung" meta.hostid="261" meta.entityid="Samsung">Samsung</keyword> has emerged as the biggest smartphone maker in the first phase, followed by <keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword>.</li><li>Samsung recorded a 20% market share in the first phase, followed by Apple with a 16% market share.</li></ul>The festive season is here and e-commerce platforms Amazon, Flipkart and others have started their festive sales, offering devices such as smartphones at a discounted price. According to a report by Tech Insights, <keyword id="21017681" type="General" weightage="20" keywordseo="smartphone-sales" source="keywords">smartphone sales</keyword> recorded an 11% growth in the first wave of the festive season sales in India between September 26 to October 6. Among the smartphone makers, Samsung topped the chart with a 20% market share in volume terms during the first phase. "Samsung led the smartphone sales volume with a 20% market share followed by Apple in the first wave of the festive season," Tech Insight said in a blog. Apple is also gaining speed in the Indian market, with over 10 lakh iPhones being sold during the 11-day sale period. The top-selling models for Samsung include the Samsung Galaxy M35, Galaxy S23, Galaxy A14, Galaxy S23 FE and more. "Samsung was also the main sponsor for sales events on Flipkart and Amazon which also gave it an additional push. Samsung sales in unit terms grew 17% year-on-year in 2024's first wave compared to 2023's first wave," the blog said. The platform estimates that online sales volume accounted for 78% of the total sales during the phase 1 period. It was driven by online sales festivals like Big Billion Days on Flipkart and The Great Indian Festival on Amazon India while offline sales started to pick momentum with the start of Navratri. Apple was a surprising second with a 16% market share driven by strong sales of the iPhone 15 which crossed a million mark in 11 days of sales. iPhone 13 followed but the sales gap between iPhone 15 and 13 was significant. Oppo, OnePlus, Xiaomi, and Realme were also among the top vendors in the first wave of the festive season by volume. "North region sales were less compared to other region sales due to the importance of Shradh in this region. Also, states like West Bengal and Gujrat experienced better sales compared to other regions given the preparation for the popular Durga Pooja festival in these states," the blog said. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

Samsung leads the first phase of festive sales with a 20% market share

<ul><li>The <keyword id="23134822" type="General" weightage="20" keywordseo="Amazon-Great-Indian-Festival" source="keywords">Amazon Great Indian Festival</keyword> Sale 2024 is now live for all users.</li><li>The sale brings huge discounts across a wide range of products, including smartphones.</li><li>Here are some of the <keyword id="5025075" type="General" weightage="100" keywordseo="best-deals-on-smartphones" source="Orion">best deals on smartphones</keyword> on the Great Indian Festival Sale on Amazon.</li></ul>Festive season is almost here and e-commerce giant Amazon is currently hosting the<a href="https://www.businessinsider.in/business/ecommerce/news/the-amazon-great-indian-festival-2024-best-deals-and-offers/articleshow/113701988.cms"> Great Indian Festival Sale 2024</a>, which is now live for all users. The sale brings discounts across a wide range of products including smartphones, tablets, laptops, wearables, home appliances, apparel and more. For those looking to get a new smartphone, this is the perfect opportunity to get one at a discounted price during the Great Indian Festival sale. In this post, we have curated some of the best deals on smartphones on the Amazon Great Indian Festival sale 2024 to make sure you don’t miss out on them. <div type="Article" hostid="261" msid="113701988" title="The Amazon Great Indian Festival 2024 – Best deals and offers" mstype="2" mssubtype="0"></div> Bank offers In addition to the discounts offered by Amazon, you can avail of an additional 10% instant discount on SBI debit cards and credit cards. Oneplus Open <cmsannotation type="cmsannotation" annotationid="B0CKTPK4FG" comment="amazoncard" text="B0CKTPK4FG">B0CKTPK4FG</cmsannotation> OnePlus Open is a good option for those looking for a foldable smartphone. The OnePlus Open features a 7.82-inch 2K AMOLED LTPO inner display and a 6.31-inch 2K AMOLED LTPO display. It is powered by the Snapdragon 8 Gen 2 processor and comes with 16GB RAM and 512GB of internal storage. It features a triple camera setup at the back and comes with a 32MP selfie camera on the cover screen and a 20MP camera on the inner screen. It is powered by a 4,805mAh battery and comes with 67W fast charging support The smartphone is currently available for ₹99,999, down from its original price of ₹1,39,999. Samsung Galaxy S24 5G <cmsannotation type="cmsannotation" annotationid="B0CS5ZZMN8" comment="amazoncard" text="B0CS5ZZMN8">B0CS5ZZMN8</cmsannotation> If you are in the market for a powerful and reliable Android smartphone, the Samsung Galaxy S24 5G is an excellent option. It features a 6.2-inch Full HD+ Dynamic AMOLED display with a 120Hz refresh rate. It is powered by the Exynos 2400 chipset coupled with 8GB RAM and up to 512GB of internal storage. It features a triple camera setup at the back and comes with a 12MP front camera. It is powered by a 4,000mAh battery and comes with 25W charging support. The phone is currently available for ₹62,999, down from its original price of ₹74,999. OnePlus 12 <cmsannotation type="cmsannotation" annotationid="B0CQPPZWVD" comment="amazoncard" text="B0CQPPZWVD">B0CQPPZWVD</cmsannotation> The OnePlus 12 is a good option for those looking for a flagship Android smartphone without burning a hole in your pocket. The OnePlus 12 5G is the company’s current flagship smartphone and features a large 6.82-inch Quad HD+ Fluid AMOLED display with a 120Hz refresh rate. It is powered by the 8 Gen 3 chipset coupled with 12GB RAM and 256GB of internal storage. The device sports a triple camera setup at the back and offers a 32MP selfie camera. The smartphone is powered by a large 5,400mAh battery and comes with 100W fast charge support and 50W wireless charging support. The smartphone is currently available for ₹55,999, with card offers and a coupon, down from its original price of ₹64,999. Apple iPhone 13 <cmsannotation type="cmsannotation" annotationid="B09G9BL5CP" comment="amazoncard" text="B09G9BL5CP">B09G9BL5CP</cmsannotation> If you are looking to purchase an iPhone without burning a hole in your pocket, the iPhone 13 is currently available at a discounted price. The iPhone 13 features a large 6.1-inch Super Retina display and is powered by the powerful A15 Bionic chipset. The device features a dual camera setup at the back consisting of a 48MP primary camera and is equipped with a 12MP selfie camera. The iPhone 13 128GB variant is currently available for ₹41,999, down from its original price of ₹59,900. Honor 200 5G <cmsannotation type="cmsannotation" annotationid="B0D6VJ6FYG" comment="amazoncard" text="B0D6VJ6FYG">B0D6VJ6FYG</cmsannotation> If you are looking for a mid-range smartphone with a clean UI, the Honor 200 5G is worth considering. The smartphone features a 6.7-inch Full HD+ curved OLED display with a 120Hz refresh rate and is powered by the Snapdragon 7 Gen 3 chipset. The smartphone comes with a triple camera setup at the back consisting of a 200MP primary camera. On the front, the device sports a 50MP camera for selfies and video calling. It is powered by a 5,200mAh battery and supports 100W fast charging. The Honor 200 is currently available for ₹24,998, down from its original price of ₹39,999. Samsung Galaxy M35 5G <cmsannotation type="cmsannotation" annotationid="B0D8134JH8" comment="amazoncard" text="B0D8134JH8">B0D8134JH8</cmsannotation> If you do not wish to splurge on a flagship smartphone and are looking for something affordable, the Galaxy M35 5G is a good option. It features a 6.6-inch Full HD+ Super AMOLED display and is powered by the Exynos 1380 chipset coupled with 6GB of RAM and 128GB of internal storage. The device features a triple camera setup at the back and comes with a 13MP selfie camera. It is powered by a large 6,000mAh battery with 25W charging support, offering a long battery life. The Samsung Galaxy M34 5G is currently available for ₹14,999, down from its original price of ₹24,499. Disclaimer - When you purchase through links on Business Insider India, we may earn an affiliate commission. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/the-amazon-great-indian-festival-2024-best-deals-and-offers/articleshow/113701988.cms">The Amazon Great Indian Festival 2024 – Best deals and offers</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a> <a href="https://www.businessinsider.in/business/auto/news/hyundai-motor-indias-25000-crore-ipo-gets-sebi-approval-indias-biggest-ipo-expected-to-launch-in-october/articleshow/113658837.cms">Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October</a>

Amazon Great Indian Festival Sale 2024 – best deals on smartphones

<ul><li>A Reddit user managed to get an <keyword id="19899647" type="General" weightage="20" keywordseo="iPhone-16" source="keywords">iPhone 16</keyword> by paying less than ₹27,000.</li><li>The user redeemed points from his <keyword id="19927314" type="General" weightage="20" keywordseo="credit-card" source="keywords">credit card</keyword> to get the iPhone 16 at this price.</li><li>Here’s everything you need to know about how the user got the iPhone 16 using ₹27,000.</li></ul>Credit cards are great if you use them correctly and pay your dues on time. They not only help you get access to free credit for a short period of time, but you can also accumulate reward points and redeem them while making your purchases. If you haven’t been taking your credit card reward points seriously, here is something that might change your mind. In a post, a Reddit user, Wild_Muscle3506, revealed that he purchased the recently launched<a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms"> iPhone 16</a> 256GB variant for under ₹27,000. <div type="Article" hostid="261" msid="113204340" title="iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900" mstype="2" mssubtype="0"></div> To recall, the iPhone 16 256GB variant is currently priced at ₹89,900. If you are wondering how the user managed to get such a big discount, the answer is reward points. As per the user, he was able to get the iPhone 16 for ₹26,970 by paying the remaining balance of ₹62,930 in reward points. The user was able to accumulate the points on his <keyword id="23469811" type="General" weightage="20" keywordseo="hdfc-bank-infinia-credit-card" source="Orion">HDFC Bank Infinia credit card</keyword>. This is a <keyword id="23469815" type="General" weightage="20" keywordseo="premium-credit-card" source="keywords">premium credit card</keyword> from the bank and comes with an issuance fee of ₹10,000 and an annual fee of ₹10,000. The user mentioned in the comments that he had to spend a huge amount to accumulate enough points to be able to get the iPhone 16 without having to spend a huge amount. In response to a user asking how much the person spent to accumulate enough points to get the iPhone 16, the user said around ₹15 lakh. However, this may not be entirely accurate as Infinia offers several accelerated reward point opportunities. In response to another comment, the user accepted this. “I never calculated how much I spent as I had also used my reward points earlier to book some flights,” the user said in a comment. Like most of us, a user was in awe of how the person was able to get the iPhone 16 at such a low price. “It makes me feel how little I know about credit cards and I was so dumb assuming that credit cards are scams,” the user chimed in. If you are thinking along the same lines and would like to know more about the <keyword id="23469814" type="General" weightage="20" keywordseo="HDFC-Bank-Infinia" source="keywords">HDFC Bank Infinia</keyword> credit card, do let us know and we will come up with a detailed post. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/here-are-the-benefits-you-get-with-indias-most-expensive-credit-card-with-a-3-54-lakh-annual-fee/articleshow/113123752.cms">Here are the benefits you get with India’s most expensive credit card with a ₹3.54 lakh annual fee</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a> <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a>

You Searched For "Hyundai ipo discount" and got 7 results

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