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<ul><li><keyword id="596" type="General" weightage="20" keywordseo="Hyundai" source="Orion">Hyundai</keyword> Motor India received approval from SEBI for its initial public offering (IPO).</li><li>The automaker is expected to raise $3 billion (approx. ₹25,000 crore) through its IPO.</li><li>This will make it the biggest IPO in India, beating the state-owned Life Insurance Corporation of India’s IPO.</li></ul> Hyundai Motor India Limited (HMIL), the Indian arm of the South Korean automaker Hyundai has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The automaker had<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms"> filed papers</a> with SEBI in June 2024 and has finally received approval. The company plans on raising $3 billion (approx. ₹25,000 crore) at a valuation of $20 billion. The company established its first manufacturing plant in India in 1998, followed by a second plant in 2008. In FY24, Hyundai Motor India was the country’s second-largest carmaker after Maruti Suzuki. Hyundai is offering 14.2 crore shares with a face value of ₹10 each, which is around 17.5% stake in the company. While there is no official announcement yet, the IPO is expected to hit the street in October 2024. "The objects of the offer are to carry out the Offer for Sale of up to 142,194,700 Equity Shares of the face value of Rs 10 each by the Promoter Selling Shareholder and to achieve the benefits of listing the Equity Shares on the Stock Exchanges," the company said in the DRHP. <div type="Article" hostid="261" msid="111519009" title="Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO" mstype="2" mssubtype="0"></div> This will make the <keyword id="20457114" type="General" weightage="100" keywordseo="Hyundai-ipo" source="Orion">Hyundai IPO</keyword> the country’s biggest IPO, beating the state-owned Life Insurance Corporation of India’s (LIC) $2.7 billion (approx. ₹21,000 crore) listing in 2022. That is until Reliance Jio’s IPO hits the street. Jio is expected to raise around ₹55,000 crore from the market. Hyundai has become 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. Apart from this, Tata Motors and Mahindra and Mahindra are listed in the Indian stock market. Over the past year, Hyundai Motor Group has announced new investment plans in India totalling approximately $3.75 billion. The company has already invested around $5 billion in the country. India is the third biggest market for the company, after the US and South Korea. <div type="Article" hostid="261" msid="113016216" title="August auto sales – Maruti Suzuki, Tata Motors and others report a decline in sales" mstype="2" mssubtype="0"></div> Hyundai emerged as the second biggest automaker in August 2024 with nearly 50,000 cars sold during the month. A Reuters report revealed that the company plans on launching its first India-made electric vehicle in the country in 2025. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/krn-heat-exchanger-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113653270.cms">KRN Heat Exchanger IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/sebi-report-reveals-the-ugly-truth-of-fo-trading-in-india-93-of-retail-traders-incurred-losses/articleshow/113620397.cms">SEBI report reveals the ugly truth of F&amp;O trading in India – 93% of retail traders incurred losses</a> <a href="https://www.businessinsider.in/business/auto/news/tata-nexon-ev-with-a-bigger-battery-launched-starting-at-13-99-lakh/articleshow/113631992.cms">Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh</a>

Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October

Yashasvi <keyword id="20066174" type="General" weightage="20" keywordseo="Jaiswal" source="keywords">Jaiswal</keyword> hit a bludgeoning half-century to steer <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords" meta.keywordsubtype="org" meta.entityname="India" meta.hostid="261" meta.entityid="India">India</keyword> to a solid 138 for two in their first innings at tea on day four of the weather-hit second Test against <keyword id="19919639" type="General" weightage="20" keywordseo="Bangladesh" source="keywords" meta.keywordsubtype="org" meta.entityname="Bangladesh" meta.hostid="261" meta.entityid="Bangladesh">Bangladesh</keyword>, here Monday. Jaiswal hammered a 52-ball 71 as India scored at over eight runs an over, and now trail the visitors by 95 runs. Earlier, Bangladesh were bundled out for 233 in their first innings, built around <keyword id="22750663" type="General" weightage="20" keywordseo="Mominul-Haque" source="keywords">Mominul Haque</keyword>'s patient hundred. The sun shone bright in the <keyword id="19921464" type="General" weightage="20" keywordseo="Kanpur" source="keywords">Kanpur</keyword> sky after two gloomy days and the on-field action finally began after losing eight sessions. Except for Mominul, none of the Bangladeshi batters applied themselves on a placid pitch that did not offer much to the Indian bowlers. Showing urgency to surpass Bangladesh total and probably push for a victory in the limited time available, India came out batting in the T20 mode. Jaiswal hit three boundaries in the opening over to stun pacer Hasan Mahmud while Rohit began by clobbering two sixes off Khaled Ahmed, and one landed on the stadium roof. The onslaught surprised the rival attack but the home fans were rewarded for flocking the stadium in the last two days despite rain. Going with a see-and-hit approach, India completed the fastest team fifty in three overs. Realising the ineffectiveness of his pacers, Bangladesh skipper Najmul Hossain Shanto introduced spinner Mehidy Hasan Miraz and he responded to the SOS call, castling Rohit. Jaiswal completed his fifty with a single off left-arm spinner Taijul Islam and went on in his aggressive fashion. His innings, which contained 12 fours and two sixes, was cut short by Mahmud. The young opener added 72 runs for the second wicket with Shubhman Gill (38). Gill (37) and Rishabh Pant (4) remained unseparated till the tea break. Earlier, pacer <keyword id="19899525" type="General" weightage="20" keywordseo="Jasprit-Bumrah" source="keywords">Jasprit Bumrah</keyword> (3/50) accounted for three batters, further establishing his brilliance, while his pace colleagues Mohammed Siraj (2/57) and Akash Deep (2/43) scalped two batters each. Spinner Ravichandran Ashwin (2/45) got rid of legendary Shakib Al Hasan, probably playing his last Test. Ravindra Jadeja toiled hard to get his 300th Test wicket and succeeded when he caught and bowled Khaled. Jadeja also became the second quickest to complete the double of 300 wickets and 3000 runs in <keyword id="19935483" type="General" weightage="20" keywordseo="Test-cricket" source="keywords">Test cricket</keyword> behind England great Ian Botham. Resuming at 107 for three, Bangladesh lost Mushfiqur Rahim (11) in the sixth over of the day when Bumrah bowled him with an angled delivery. It was an error of judgement from Rahim who left the ball, thinking it would go over the stumps but it stayed a bit low to disturb the off-stump. In the previous ball also, Rahim was troubled by an angled delivery that took the edge and zoomed to the boundary ropes. New-man in Litton Das (13) began confidently, driving a length ball from Bumrah through the cover for a four and followed that up with another solid drive in the same region. Mominul stayed solid from his end and also survived an appeal off Mohammed Siraj. The southpaw was beaten, as the ball hit his thigh-pad and DRS showed the ball had not touched his glove before being taken by Jaiswal. In the next ball, Mominul completed his half-century by pulling a short one from Siraj to the square leg boundary. Rohit, standing at mid-off, pulled a stunner from thin air when Das charged down the wicket to Siraj but stood in disbelief after his powerful hit was plucked by the Indian captain. In came Shakib (9), but he did not last long. He got his first boundary by working a full-length delivery from Siraj on the leg side. He went after Ashwin but could not connect well as his one hand came off the bat. Siraj standing at mid-off backpaddled to take a stunning catch. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms" target="_blank">Upcoming cars launching in India in October 2024</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank">Upcoming smartphones launching in India in October 2024</a><a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms" target="_blank">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Yashasvi Jaiswal hammers Bangladesh attack after Mominul's ton; India 138/2 at tea

<ul class="summary-list"><li>Climate change and soaring energy prices could make widespread blackouts more common, even in wealthy nations.</li><li>Californians narrowly averted statewide blackouts, and Britons impacted by the war in Ukraine will soon pay nearly double for electricity.</li></ul>Stock up on batteries, candles, and non-perishable snacks. Blackouts are coming.For the first time in decades, the western world is preparing for widespread and rolling energy shortages. The US, UK, and EU have all been squeezed by Russia's invasion of Ukraine, soaring costs for electricity and fuel, and record-breaking heat waves. While fall is just around the corner, the worst of the energy strain is likely still to come.Even wealthy nations won't be spared, at least without broad broad policy change and private-sector overhauls. Add in the accompanying economic costs and extreme health risks, and you have a very difficult situation.In California, it will materialize as outage warnings and restrictions on your air conditioning. Then in coming years, Texans, Illinoisans, and Missourians will join the suffering of their west coast peers amid sweltering heat and rolling blackouts.And across Europe and the UK, residents not used to heat waves will either face skyrocketing energy bills or dangerously hot summers — a situation made worse by their reliance on Russian gas, the flow of which has been essentially cut off entirely.<h2>In the US, climate change risks decades of 'extreme danger'</h2>Amid record-high temperatures on the west coast Tuesday afternoon, California's grid operator ISO urged residents to limit their energy use and cautioned that rolling blackouts could arrive.<div type="image" title="REDDIT SCREENSHOT" height="555" width="828" msid="94094698" hostid="261"></div>The text alert worked. Emergency precautions lifted at 8 pm PT without the need for widespread blackouts. The utility added that residents' energy conservation "played a big part" in bolstering the grid's reliability.The relief was short-lived. Just 15 hours later, the ISO issued another alert calling on residents to use less energy throughout the afternoon. Californians were encouraged to avoid using large appliances, unplug unused electronics, and set their thermostats no lower than 78 degrees."I can't keep doing this," Twitter user @<a href="https://twitter.com/sdfashionista3/status/1567727243115507714?s=20&amp;t=6JdxDymdsGyG5jh4oJEpCg">sdfashionista3</a> wrote in response to the ISO on Thursday morning. "Been in San Diego my entire life never seen the temp this high at night even during a Santa Ana."And while the ISO's Tuesday alert helped stave off rolling blackouts, more than 50,000 Californians experienced some form of a power outage that afternoon, according to data from <a href="https://poweroutage.us/">poweroutage.us</a>.The strain on California's power grid can be traced directly to climate change. Average temperatures have risen faster than residents' heat tolerance, meaning Californians are running their air conditioning significantly longer than they did just years ago. Yet utilities companies and regulators haven't bolstered the power grid accordingly, and soaring demand for electricity has pushed that infrastructure to the edge."Fossil-fuel based electricity has traditionally been seen as the most reliable," Romany Webb, an associate research scholar at Columbia Law School and senior fellow at the Sabin Center for Climate Change Law, told Insider. "But the combination of gas being in shorter supply and more expensive, combined with these climate impacts, highlight that that's really no longer the case."The alerts, while helpful on Tuesday, underscore the looming threat facing California and other states with hotter climates. Roughly 8 million Americans are already expected to experience temperatures above 125 degrees in 2022, levels deemed to pose "extreme danger," according to the <a href="https://www.weather.gov/ffc/hichart">National Weather Service</a>. That count is expected to reach 107 million people in 2053 as climate change powers higher and higher temperatures, according to new research from <a href="https://firststreet.org/research-lab/published-research/article-highlights-from-hazardous-heat/">First Street Foundation</a>.California won't be alone. All of Illinois and Missouri are set to feature 125 degree days by 2053, the foundation found. Parts of 23 other states will land in the belt.Without massive investment in overhauling the country's energy grid, such heat waves could knock out power across states for days on end. That endangers millions who can't afford to cool down with a generator or a pool. A lack of power will also lead to widespread food spoilage as freezers and refrigerators shut down.<div type="image" title="First Street Foundation" height="556" width="742" msid="94094700" hostid="261"></div>Countless business owners will be forced to close up shop, and those staying open won't get much traffic as Americans focus on beating the heat.Americans requiring powered medical devices will be in the most immediate danger, especially as blackouts can come at a moment's notice."If we don't accelerate our action to mitigate climate change and prepare for the climate change that's already happening, we're likely to see more of these outages and have a less reliable grid," Webb said.<h2>Europe's decoupling from Russian energy presents an impossible choice</h2>The EU and UK's energy problem has far more to do with their dependence on Russia. While the US can largely rely on its own energy commodities for power despite its struggles with its antiquated electric grid, western Europe leans heavily on Moscow for its natural gas and crude oil to keep prices steady.The relationship, while rocky, lasted for several decades. That ended when Russia invaded Ukraine in February 2022 and sparked intense backlash from the West. The EU and UK quickly levied sanctions on Russia's energy sector, unveiling plans to quickly reduce their purchases of Russian goods and find those commodities elsewhere.The pivot hasn't been an easy one. Western Europe has struggled with energy shortages throughout the year, and summer heat exacerbated the problem. Crippling heat waves emerged in the UK, Spain, Portugal, and France, with all-time-high temperatures causing <a href="https://www.businessinsider.com/uk-heat-all-time-record-europe-heatwave-2022-7">large wildfires and thousands of deaths</a>.The hot spell was particularly dangerous because many affected countries "are not really trained to deal with the heat," George Havenith, Professor of Environmental Physiology and Ergonomics of Loughborough University, recently told <a href="https://www.businessinsider.com/uk-heat-all-time-record-europe-heatwave-2022-7">Insider</a>. Many businesses are already girding for a historic energy crisis. JPMorgan's European offices have carried out <a href="https://www.businessinsider.com/jpmorgan-deutsche-bank-europe-russia-gas-hot-water-lights-generators-2022-9">power outage simulations</a> in recent weeks to prep for outages, <a href="https://www.reuters.com/business/finance/europes-banks-dim-lights-they-brace-winter-blackout-2022-09-07/">Reuters</a> reported Wednesday. Deutsche Bank told the outlet it turned off hot water in bathrooms and changing office temperatures to cut down on energy use. The Euronext stock exchange said it has backup generators ready in case blackouts hit.The heat wave has since eased somewhat, but Russia's <a href="https://www.businessinsider.com/europe-energy-crisis-uniper-germany-russia-ukraine-natural-gas-prices-2022-9">retaliation to energy embargoes</a> kicked off a new stage of pain. The UK and EU haven't fully weaned themselves off of Russian gas yet, leaving energy in shorter supply as the Kremlin cuts off westward flows.That's left residents paying up for their everyday power needs. Britain's energy regulator <a href="https://markets.businessinsider.com/news/commodities/europe-energy-crisis-uk-winter-heat-prices-gas-russia-ukraine-2022-8">lifted its cap on annual energy bills</a> to £3,549 — about $4,189 — starting October 1, nearly doubling the previous limit and up 178% from last winter.The hike presents low-income Britons with an impossible choice: go into debt to maintain their basic energy use, or endure a blazing hot summer and frigid winter rife with blackouts and health hazards.Prime Minister Liz Truss announced Thursday — only her third day in office — that the government will cap households' annual energy bills at £2,500 ($2,880) starting October 1, mitigating some of the effects of soaring costs. The British government will pay the remainder of the bill, and while the government hasn't announced the entire cost of the measure, it's likely to be one of the priciest economic interventions the UK has seen in decades.Immediate solutions to the energy crisis are few and far between, but such price controls "must be on the table" to curbing inflation, Martin Wolf, chief economics commentator at the Financial Times, said in a Sunday <a href="https://www.ft.com/content/441bb5c8-4afe-4463-9320-6c64731f7170?utm_source=newsletter&amp;utm_medium=email&amp;utm_campaign=newsletter_axiosmarkets&amp;stream=business">column</a>.Yet as climate change rages on, the impetus to reinforce electrical grids with renewable power and efficient energy storage grows stronger."Unless we recognize the serious risks that climate change poses to our electrical system, we're likely to see more of these reliability issues," Webb said. "It's imperative that regulators, electric utilities, and system operators recognize that climate change is here."

Get ready for blackouts from London to LA, as the global energy crisis overwhelms grids and sends energy prices skyrocketing

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">REUTERS/Jose Miguel GomezA man carries a refrigerator while crossing the Tachira river border with Venezuela into Colombia, near Villa del Rosario village August 25, 2015.</div></div></div>Good morning! Here's what you need to know.Chinese stocks opened up. Fresh from two days of utter carnage, further monetary policy easing from the PBOC and restrictions on some forms of futures trading, <a href="http://uk.businessinsider.com/chinese-stocks-have-opened-higher-2015-8#ixzz3jtfZCBy2">Chinese stocks have opened Wednesday's session higher, and the Shanghai Composite is currently up 2.2%</a>.And Chinese regulators took action to limit speculation. The China financial futures exchange (CFFEX) just announced a swathe of measures designed to limit market speculation. <a href="http://uk.businessinsider.com/china-just-took-action-to-reduce-stock-market-speculation-2015-8#ixzz3jtfgcMvH">In a release today CFFEX stated that margin requirements for futures trading had been raised along with transaction fees. They will also restrict trading positions in some stock index futures</a>. Other Asian markets are up. As of 6:50 a.m. <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> time (1:50 a.m. ET) Hong Kong's Hang Seng is up 0.32% and Japan's Nikkei is up 2.84%.US markets surged and then slumped on Tuesday. On Tuesday morning, the Dow was up as many as 420 points in a big bounce after Monday's 588-point loss. The S&amp;P 500 and Nasdaq were also up nearly 3% early in the day. <a href="http://uk.businessinsider.com/closing-bell-august-25-2015-8#ixzz3jtfzI4QV">The market, however, couldn't hold on to its gains in a disappointing close, and the Dow finished about 600 points off its highs while the S&amp;P had its biggest one-day reversal since October 2008 at the height of the financial crisis</a>.South Korea is willing to discuss the end of sanctions on the North. <a href="http://www.businessinsider.com/r-south-korea-willing-to-discuss-norths-demand-to-lift-sanctions-2015-8#ixzz3jtgAeOf4">South Korea is willing to discuss North Korea's demand for an end to sanctions imposed over a 2010 naval attack, the South said on Wednesday</a>, a day after the rivals struck a landmark pact that defused a standoff between their forces.A Brazilian money launderer says a former presidential candidate took bribes. Convicted Brazilian money launderer Alberto Youssef testified to lawmakers at a congressional hearing on corruption on Tuesday that <a href="http://www.businessinsider.com/r-brazil-money-launderer-testifies-former-presidential-candidate-took-bribe-2015-8#ixzz3jth265rE">former opposition presidential candidate Aecio Neves took bribes from a corruption scheme involving Furnas, a subsidiary of state-run power utility Eletrobras</a>.US regulators have rejected a major utilities merger. <a href="http://www.businessinsider.com/r-washington-dc-regulators-reject-exelon-pepco-power-merger-2015-8#ixzz3jtgp6cJD">Utilities regulators for the District of Columbia on Tuesday denied Exelon Corp's $6.8 billion bid for Pepco Holdings</a>, dealing a major blow to a deal that would have created the country's top power distributor.Carlos Slim's Mexican telecoms group is being investigated by regulators. According to the Financial Times, <a href="http://www.ft.com/intl/cms/s/0/ae628f10-4ba4-11e5-9b5d-89a026fda5c9.html#axzz3jkicZmYn">Slim's TelMex fixed-line telecoms group is being probed over whether it's strayed too much towards a satellite television service</a>.China and Japan are engaged in a battle to build Indonesia's first bullet train. <a href="http://www.businessinsider.com/afp-china-japan-battle-to-build-indonesias-first-bullet-train-2015-8#ixzz3jtgUqcae">China and Japan are locked in an increasingly heated contest to build Indonesia's first high-speed railway</a>, with the Asian giants sweetening deals and turning up the charm as time runs out to woo Jakarta.A former JP Morgan analyst has been charged over an insider trading scheme. <a href="http://www.businessinsider.com/r-us-authorities-charge-former-jp-morgan-analyst-with-insider-trading-scheme-2015-8#ixzz3jthLpF47">A former analyst with JP Morgan Securities and two longtime friends have been charged with an insider trading scheme from which they are alleged to have made more than $600,000 (£382,150) in illegal profits</a>, US authorities said on Tuesday. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/ferrari-california-t-specs-facts-video-drive-2015-7">The cheapest new Ferrari money can buy is absolutely gorgeous</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JleHMzdjpIcJpld5dfaVynKzlNb_4V_q" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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Hyundai Motor India’s ₹25,000 crore IPO gets SEBI approval – India’s biggest IPO expected to launch in October

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Yashasvi Jaiswal hammers Bangladesh attack after Mominul's ton; India 138/2 at tea

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Get ready for blackouts from London to LA, as the global energy crisis overwhelms grids and sends energy prices skyrocketing

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I shopped at Aldi and Lidl to see which grocery store was better, and the newer chain was clearly superior

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