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HYUNDAI TAKES ON MARUTI (IPO) OFF THE ROAD (HMI was organising roadshows parallel to that of MUL's at the time of the latter's initial public offer).

Asia Africa Intelligence Wire

| July 18, 2003 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From India Business Insight)

Hyundai Motor India (HMI) was organising roadshows parallel to that of the Maruti Udyog Ltd's (MUL) roadshows at the time of the latter's initial public offer (IPO). HMI's officials were said to be meeting fund managers to discourage the latter to subscribe to MUL's shares by highlighting various negative aspects of the issue. The Ministry of Disinvestment, Government of India, was aware of HMI's activities but has …

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