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Hyundai Motor India has continued to witness growth in the SUV market, COO and Whole-Time Director Tarun Garg said in an interview with Storyboard18's sister publication CNBCTV18.com. Garg said that sports utility vehicles (SUVs) make up 70 percent of their sales.

The maker of Venue, Alacazar, and Creta among others, HMI has maintained its SUV market share at a steady 18 percent (approx), showing no sign of decline, Garg added.

Hyundai's SUVs accounted for 67 percent of the company's sales from January to September 2024. Garg said that in September alone, the figure rose to 70 percent. The automaker's rural penetration matches the 67 percent-mark, the COO told CNBC TV8.

	
<a href="https://www.storyboard18.com/advertising/hyundai-motor-india-increases-ad-budget-as-ipo-nears-eyes-trusted-brand-positioning-44763.htm">Hyundai Motor India increases ad budget as IPO nears, eyes trusted brand positioning</a>

HMI is set to make a debut in the Indian stock market this month. The 27,870 crore initial public offering (IPO) of the company opened for subscription on Monday 15 October and will conclude on October 17.

According to the COO, the IPO funds will aid in expanding the company's electric vehicle segment. Hyundai's Indian arm has planned three launches in the EV segment, he added.

Acknowledging competition with brands like Kia and others, Garg exuded confidence in Hyundai's position, citing the continued success of Creta. The model has sold around 15,000 units per month, positing double-digit growth.

HMI, established in May 1996, is a part of Hyundai Motor Group. The HMIL's vehicle lineup includes sedans, hatchbacks, SUVs, and electric vehicles (EVs), featuring models such as the Grand i10 NIOS, i20, i20 N Line, AURA, Elantra, Venue, Venue N Line, Verna, Creta, Creta N Line, Alcazar, Tucson, and the all-electric SUV Ioniq 5. As of December 31, 2023, HMIL had partnerships with 363 dealer companies for distribution and sales in India.

The price band of Hyundai Motor IPO is between Rs 1,865 and Rs 1,960 per share. The company's value is pegged at around Rs 1.6 lakh crore post-IPO.

Hyundai Motor India accelerates in SUV market, eyes growth with IPO, EV expansion: COO Tarun Garg

Hyundai Motor India Ltd, which is preparing for its upcoming IPO, has significantly increased its spending on advertising and marketing over the last two fiscal years. The automaker has affirmed its commitment to continue these efforts in order to strengthen its position as a trusted brand in the Indian market.
The Indian arm of the South Korean automaker is set to make a debut in the Indian stock market in just 10 days.

Hyundai Motors's IPO size is pegged at Rs 27,870.16 crore. The maker of the Creta car has set a price band of Rs 1,865-1,960 per share. The issue will open on 15 October 2024 and conclude on 17 October. 

According to the Draft Red Herring Prospectus (DRHP), submitted to the Securities and Exchange Board of India (Sebi) in June this year, Hyundai Motors has spent Rs 677 crore on advertisement and sales promotion on a standalone basis in fiscal year 2023 (FY23). The ads expenses saw an increase of 37.66 percent in contrast to FY22 expenditure at Rs 491 crore driven by campaigns exhibitions and new launches.

<a href="https://www.storyboard18.com/advertising/swiggys-ad-spend-drops-26-to-rs-1850-79-crore-in-fy2024-to-cost-effectively-invest-in-marketing-43347.htm">Swiggy’s ad spend drops 26% to Rs 1850 crore in FY2024; to ‘cost-effectively’ invest in marketing</a>

Hyundai has planned to invest in targeted marketing campaigns through digital media initiatives, sponsorships, television advertisements, gaming shows, and sporting events and celebrity endorsements in the future.

In the DRHP, the automaker mentioned, "We collaborate with our dealers for promotion and advertising through various media and supply dealers with promotional materials for sales and service marketing". 

	
<a href="https://www.storyboard18.com/how-it-works/rs-580-bn-boom-indian-digital-ad-spending-set-to-surge-15-9-this-festive-season-41419.htm">Rs 580 bn boom: Indian digital ad spending set to surge 15.9% this festive season</a>

As of December 31, 2023, Hyundai Motor India had partnerships with 363 dealer companies for distribution and sales in India.
Notably, Hyundai's advertising expenses lag significantly behind those of its rival, Maruti Suzuki India. The Indian subsidiary of Japanese automaker Suzuki Motor Corporation spent Rs 947 crore on advertisement and sales as compared to Rs 668 crore in FY 2022. Additionally, Tata Motors' standalone publicity expenses in FY23 and FY22 stood at Rs 439.7 crore and Rs 321.4 crore, respectively.

Hyundai Motor India increases ad budget as IPO nears, eyes trusted brand positioning

The shareholders of IPO-bound Swiggy have reportedly approved the resolution to increase the size of the company's public issue from Rs 3,750 crore to Rs 5,000 crore. 

According to the Moneycontrol report, a sister publication of Storyboard18, Swiggy has created a provision to increase the IPO size by Rs 1,250 crore which requires additional funds. 

Citing sources, Moneycontrol said the shareholders approved the resolution to increase the IPO size during the Extraordinary General Meeting (EGM), held on October 3. 

Notably, only the size of the primary issue has been increased to Rs 5,000 crore. The offer for sale (OFS) component will remain unchanged at Rs 6,664 crore.

The Bengaluru-based food delivery platform is slated to go public later this year.

<a href="https://www.storyboard18.com/advertising/swiggys-ad-spend-drops-26-to-rs-1850-79-crore-in-fy2024-to-cost-effectively-invest-in-marketing-43347.htm">Swiggy's ad spend drops 26% to Rs 1850 crore in FY2024; to 'cost-effectively' invest in marketing</a>

The company made its draft red herring prospectus (DRHP) public on September 26. As per the DRHP, the losses of the company have widened by 8 percent to Rs 611 crore between April and June FY 2025 from Rs 564 crore in the same period last fiscal.

Swiggy's revenue from operation stood at Rs 3,222 crore in the first quarter of FY25 as against Rs 2,389.8 crore in the corresponding period of FY2024.

<a href="https://www.storyboard18.com/brand-marketing/swiggy-expresses-concerns-over-ondc-intensified-competition-and-economic-pressure-43445.htm">Swiggy expresses concerns over ONDC, intensified competition, and economic pressure</a>

Swiggy's listed rival Zomato's revenue was up by 74 percent to Rs 4,206 crore year on year in Q1 FY25. Zomato also posted a profit of Rs 253 crore in the Q1 of the current fiscal.


Swiggy's quick commerce arm, Swiggy Instamart, revenue was up by 108 percent to Rs 374 crore in the Q1 FY25 while Zomato's Blinkit clocked revenue of Rs 942 crore (23 percent growth) during the same period.

	
<a href="https://www.storyboard18.com/brand-makers/swiggy-admits-to-data-breaches-says-business-is-vulnerable-to-cyberattacks-43408.htm">Swiggy admits to data breaches, says business is vulnerable to cyberattacks</a>

Swiggy decreased its advertisement and sales expenditure by 26% to Rs 1850.79 crore in FY2024 from Rs 2501.16 crore in FY2023. In the quarter ended June 30, 2024, Swiggy spent Rs 445.3 crore on advertising and sales. In contrast, Zomato's advertisement and sales promotion expenses rose 17% YoY to Rs 1,432 crore in FY2024 and Rs 396 crore in Q1 FY2025. Swiggy emerged as the "most valuable brand in the Consumer Technology & Services Platforms" category and amongst the Top 25 most valuable brands in India, overall on the Kantar BrandZ Most Valuable Indian Brands Report 2024.

Swiggy shareholders approve increase in IPO size to Rs 5,000 crore: Report

Food aggregator and delivery platform Swiggy, which submitted an updated draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi), expressed ONDC as a threat.

In the DRHP, Swiggy said that large businesses can develop their own apps and delivery services to bypass third-party platforms. Successful execution of this trend could reduce the volume of orders on these platforms as customers might prefer ordering directly from these businesses.

"The emergence of models like Open Network for Digital Commerce (ONDC) is an example of this trend by allowingbusinesses to connect directly with consumers, bypassing third-party intermediaries," Swiggy mentioned in the DRHP.

<a href="https://www.storyboard18.com/advertising/swiggys-ad-spend-drops-26-to-rs-1850-79-crore-in-fy2024-to-cost-effectively-invest-in-marketing-43347.htm">Swiggy's ad spend drops 26% to Rs 1850 crore in FY2024; to 'cost-effectively' invest in marketing</a>

ONDC is an initiative by the Indian government to promote an open e-commerce network that connects shoppers, platforms, and retailers.

Apart from ONDC, Swiggy said that intensified competition from existing players, new entrants, and companies from other sectors
leveraging their existing capabilities for certain hyperlocal services like Quick Commerce can raise competitive
intensity.

Further, according to Swiggy, economic and inflationary pressure could limit disposable income, impacting some discretionary spending on Hyperlocal Platforms.

Swiggy has posted its revenue from operations at Rs 3,222.21 crore in the first quarter of FY25 against Rs 2,389.81 crore reported in the corresponding quarter of FY2024.

<a href="https://www.storyboard18.com/brand-makers/swiggy-admits-to-data-breaches-says-business-is-vulnerable-to-cyberattacks-43408.htm">Swiggy admits to data breaches, says business is vulnerable to cyberattacks</a>

The food delivery aggregator’s total liabilities were reported at Rs 2,896.25 crore in Q1FY25, against Rs 2,526.26 crore reported in Q1FY24. 

However, the Bengaluru-headquartered company's net loss narrowed to Rs 2,350 crore in FY2024, from a loss of Rs 4,179 crore in fiscal 2023.

<a href="https://www.storyboard18.com/brand-makers/swiggy-ipo-co-founders-sriharsha-majety-nandan-reddy-remuneration-revealed-43348.htm">Swiggy IPO: Co-founders Sriharsha Majety, Nandan Reddy remuneration revealed</a>


Swiggy is looking to raise Rs 3,750 crore by issuing fresh shares and offers for sale with shareholders offloading up to 185,286,265 equity shares of the company.

According to Swiggy, the net proceeds towards the funding will be utilized for the investment in Scootsy- a material subsidiary of the company; investment in technology and cloud infrastructure; brand marketing and business promotion and funding in inorganics growth through unidentified acquisitions and general corporate purposes.

Swiggy expresses concerns over ONDC, intensified competition, and economic pressure

In its updated Draft Red Herring Prospectus (DRHP), IPO-bound Swiggy reported that the food delivery aggregator experienced two cyberattacks leading to data breaches between 2022 and June 30, 2024. Swiggy acknowledged in the report that its platform and back-end infrastructure are susceptible to cyberattacks and security breaches, including social engineering, denial-of-service attacks, credential stuffing, ransomware, malware, employee errors, and malicious acts. Additionally, third parties may be able to access sensitive data.

Employee mistakes, misconduct, or errors in storing, using, or transmitting such data could lead to actual or perceived privacy or security breaches, or other incidents. The company also disclosed that as it grows and collects more data, the risk of significant failures in internal controls or data security measures increases, potentially resulting in breaches affecting more individuals and exposing Swiggy to greater liabilities, fines, and compensation claims.

Swiggy reported two potential data breach incidents for the three months ending June 30, 2024, and for the fiscal years 2024, 2023, and 2022. The first incident was detected in September 2022 during a technical infrastructure update, where some customers were able to view the last four digits of credit card details or parts of UPI handles of other customers. Although no complaints were filed and the incident had no adverse effect on operations or finances, Swiggy voluntarily reported it to the Indian Computer Emergency Response Team (CERT-In).

The second incident occurred in February 2023, when a former employee fraudulently gained unauthorized access to Swiggy's test systems. The issue was flagged by the monitoring system, and the breach was limited to the testing environment. There was no material impact on operations or finances, and Swiggy promptly updated its policies for employees and former employees, as well as filed a police report (FIR) against the ex-employee.

Swiggy emphasized that future attacks cannot be ruled out, stating, "Our platform and back-end infrastructure may be vulnerable to cyberattacks and security breaches, including social engineering, denial of service, credential stuffing, ransomware, and other malware, employee error, and malfeasance, among other sources of disruption. Third parties may be able to access data."

The company added, "Employee error, malfeasance, or other errors in the storage, use, or transmission of any of these types of data could result in an actual or perceived privacy or security breach or other security incident. Although we have policies, system controls, and checks to restrict access to the data we store, there is a risk that these policies may not be effective in all cases."

As Swiggy continues to grow, the company highlighted the increased risk: "The more personal data we hold, the greater the likelihood that a significant failure in our internal controls or data security measures could result in a data breach affecting more individuals, which could expose us to greater potential liability through fines and compensation claims, significant reputational harm, and a loss of trust that could deter users from using our platform."

Swiggy admits to data breaches, says business is vulnerable to cyberattacks

IPO-bound Swiggy's advertisement and sales expenditure decreased by 26% to Rs 1850.79 crore in FY2024 from Rs 2501.16 crore in FY2023. In the quarter ended June 30, 2024, Swiggy spent Rs 445.3 crore on advertising and sales. In contrast, Zomato's advertisement and sales promotion expenses rose 17% YoY to Rs 1,432 crore in FY2024 and Rs 396 crore in Q1 FY2025.

In January 2024, Swiggy entered into an agreement with a marketing agency (Brand Promotion Arrangement). The company proposed to spend up to Rs 1000 crore, over four calendar years on brand marketing services across various channels, including traditional media (including TV, print, and radio media), OTT media, and digital media. According to Swiggy's Draft Red Herring Prospectus (DRHP), the company will use its estimated net proceeds of Rs 929.5 crore for brand marketing and business promotion expenses until FY2028 to enhance brand awareness and visibility. In the fiscal year 2025, Swiggy's estimated utilization of net proceeds stands at Rs 61.5 crore, followed by Rs 239 crore in FY2026, Rs 266 crore in FY2027 and Rs 363 crore in FY2028, respectively.

"We intend to continue to invest in targeted marketing campaigns and other brand-building initiatives, cost-effectively, to create and increase brand recall, attract and retain more users, restaurant partners, merchant partners, brand partners, and delivery partners to our platform," Swiggy mentioned in its DRHP. 

"We would want to continue to invest behind marketing mediums (such as digital and brand marketing), while also working on new media opportunities which evolve based on changing consumer media consumption habits," the Bengaluru-headquartered company added.

Advertising expenditure is shifting online, especially in the food and retail industry. According to the Redseer report, the ad expenses contributed to more than 40 percent of the total digital advertising expenditure in India of approximately Rs 73,000 crore (US$9 billion) in 2023. 

Swiggy invests in targeted marketing campaigns, through digital media initiatives, sponsorships, endorsements television advertisements, and other brand-building initiatives to attract more users, restaurant partners, merchant partners, brand partners, and delivery partners to the platforms. "We sponsor sporting events, run targeted advertisements and campaigns during festivals and cultural occasions, and run active social media pages". According to Swiggy, the user engagement tactics have translated into customer retention with users onboarded on the platform in fiscal year 2019 increasing their Gross Order Value spend to 2.83x over five years (as of March 31, 2024).

Swiggy emerged as the "most valuable brand in the Consumer Technology & Services Platforms" category and amongst the Top 25 most valuable brands in India, overall on the  Kantar BrandZ Most Valuable Indian Brands Report 2024. 

On the advertisement revenue, Swiggy said it earns from restaurant partners, merchant partners, and brand partners for availing its marketing services. Advertisement revenue is recognised when a consumer engages with the sponsored listing based on the number of clicks. Additionally, Swiggy sells online advertisements which are usually run over a contracted period of time. Swiggy's advertisement and sales promotion as a percentage of revenue from operation was 16.46 percent of Rs 1,850.7 crore.

Swiggy filed its DRHP with the  Securities and Exchange Board of India (SEBI) on 26 September. The fresh issue component is for Rs 3,750 crore while the offer for sale would comprise 18.53 crore shares. The company's losses declined to Rs 2350.2 crore in fiscal 2024 from Rs 4,179.3 crore in FY2023.

Swiggy's ad spend drops 26% to Rs 1850 crore in FY2024; to 'cost-effectively' invest in marketing

Swiggy co-founders Sriharsha Majety and Lakshmi Nandan Reddy Obul's Cost to the Company (CTC) stand at Rs 2.5 crore each. The fixed pay components of both Majety and Reddy are Rs 1.75 crore, which is 70 percent of their annual remuneration for 2024, while the variable pay component is Rs 90 lakh. According to the updated draft red herring prospectus (DRHP) submitted to SEBI on September 26, the CTC for Swiggy co-founders will increase to Rs 3 crore in 2026. Notably, Rahul Jaimini, Swiggy's third co-founder, quit the platform in 2020.

Majety has been appointed as the Managing Director and Group Chief Executive Officer from 1 April 2024 while Reddy has been appointed as the Whole-time Director - Head of Innovation for a period of five years each. In FY2024, Swiggy paid Rs 6.4 crore of remuneration to Reddy and Majety, including a one-time ex-gratia payment of Rs 4.5 crore.

Currently, Majety holds 1.9 crore of equity shares in Swiggy, while Reddy holds 3.04 lakh. 

Majety graduated from Birla Institute of Technology and Science, with a degree in electrical and electronics engineering. He completed a post-graduate diploma in management from the Indian Institute of Management, Calcutta. Reddy holds a master’s degree in science (honors) in physics from BITS Pilani. He previously worked with Intellectual Capital Advisory Services Pvt. Ltd. (Intellecap) as an associate in business consulting.

Notably, Deepinder Goyal, founder of Swiggy competitor Zomato, has voluntarily waived his salary for a period of 36 months starting from April 1, 2021.

<strong>Other key managerial personnel at Swiggy and their remuneration</strong>

Swiggy's Chief Financial Officer (CFO) Rahul Bothra received a remuneration of Rs 10.04 crore (including a one-time ex-gratia payment of Rs 7 crore) during fiscal 2024. Bothra joined Swiggy on September 1, 2017. Prior to joining Swiggy, Bothra was associated with Wipro Limited, Britannia Industries Limited, and Olam International Limited. He holds a bachelor’s degree in commerce from Bangalore University.

Madhusudhan Rao Subbarao, the Chief Technology Officer at Swiggy, joined the company on June 21, 2018. Subbarao received a remuneration of Rs 6.2 crore (including a one-time ex-gratia payment of Rs 3 crore and contribution to NPS and other perquisites of Rs 11 lakh). Subbarao previously worked at Boomerang Commerce India Private Limited and Amazon.

Amitesh Jha, the Chief Executive Officer – Instamart, holds a bachelor’s degree in technology (chemical engineering) and, a master’s degree in technology (process engineering and design) from the Indian Institute of Technology, Delhi, and has completed the postgraduate programme in management from Indian Institute of Management, Ahmedabad. Previously, Jha worked at Flipkart Private Limited for 14 years as senior vice president. Jha joined Swiggy recently.

Swiggy's Chief Human Resources Officer Girish Menon received a remuneration of Rs 7.3 crore in FY2024. Menon has been associated with Swiggy since 19 April 2016. 

Swiggy IPO: Co-founders Sriharsha Majety, Nandan Reddy remuneration revealed

Hyundai Motor India Ltd. has received a crucial approval from the Securities and Exchange Board of India (SEBI) for its much-anticipated initial public offering (IPO). 

The IPO will see the South Korean auto giant offload up to 142,194,700 equity shares, each priced with a face value of Rs 10, in an offer for sale that could potentially raise around 25,000 crore (approximately $3 billion).

According to sources cited by CNBC-TV18, Hyundai India is eyeing a launch date in the first fortnight of October. If successful, this IPO would eclipse Life Insurance Corporation (LIC) of India's record-setting offering, which raised around $2.45 billion.

The entire IPO will be an offer for sale by Hyundai Motor Company, the automaker's promoter and primary shareholder. The 17.50% of equity shares on offer will significantly broaden the ownership base and is seen as a strategic move to enhance Hyundai Motor India's footprint in the competitive Indian market, while simultaneously creating value for shareholders.

With the SEBI nod in hand, the company is poised to further bolster its position as the second-largest player in India's passenger vehicle market, trailing only Maruti Suzuki.

Hyundai is expected to reveal more details about the IPO's pricing and schedule in the coming weeks, as anticipation continues to build around one of the country's largest IPOs to date.

Hyundai Motor India IPO: SEBI clears path for record-breaking public offering

Digital banking platform One MobiKwik Systems Limited has received approval from the Securities and Exchange Board of India (SEBI) to get listed on the stock market.

The fintech startup refiled its IPO documents in January this year. MobiKwik is set to raise Rs 700 crore through Initial Public offering (IPO). Initially, it filed for a public listing in late 2021 but did not receive a regulatory nod then.

As per the media reports, MobiKwik will allocate the raised funds for expanding its business (Rs 250 crore), for growth in the payment services sector, for investment in data in machine learning, AI, and technology (Rs 135 crore each), for capex related to payment devices (Rs 70 crore), and the remaining amount for general corporate purposes.

	
<a href="https://www.storyboard18.com/how-it-works/ipo-bound-ecom-express-processes-82-of-tier-2-shipments-but-faces-growth-challenges-incred-equities-42965.htm">IPO-bound Ecom Express processes 82% of tier-2 shipments but faces growth challenges: InCred Equities</a>

Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik offers a range of financial services such as online checkout, Kwik QR scan and pay, MobiKwik Vibe (Soundbox), MobiKwik EDC Machine, etc.

	
<a href="https://www.storyboard18.com/brand-marketing/five-star-hotel-chain-the-leela-palace-to-file-for-rs-5000-crore-ipo-soon-report-42889.htm">Five-star hotel chain ‘The Leela Palace’ to file for Rs 5,000 crore IPO soon: Report</a>

Its subsidiary Zaakpay manages a B2B payment gateway for e-commerce businesses.


The company has 156 million registered users as of March 31, 2024. Mobikwik reported a net profit of Rs 14 crore in FY24 compared to a net loss of Rs 80.6 crore a year ago. Its operational revenue jumped 62% on year to Rs 875 crore from Rs 539 crore in FY23. The total income also increased to 890.32 crore in FY24. The company reduced its advertisement expenses to Rs 33.41 in FY24 from Rs 44.05 million. Its ROCE and EBITDA margins improved to 15.21% and 4.16% respectively.


One MobiKwik Systems get Sebi's nod for IPO

IPO-bound logistics firm Ecom Express is facing challenges due to low operating leverage and high client concentration, despite attracting the bulk of businesses from tier-2 cities.

According to the InCred Equities report, the company processed 82 percent of the shipments from tier-2 cities, higher than the industry average of 62% in FY2024.

The third-party logistic platform had a 27 percent market share by shipment in FY24, second only to its rival Delhivery. The company's express shipment CAGR was 33.5% between FY2020-2024, similar to Delhivery's 34.7%, while shipment growth in FY2024 remained muted.

InCred Equities estimated that Ecom Express handled 430 million of shipments in FY2024 accounting for 58% of Delhivery's shipments, while its sales were 51% of Delhivery's express sales. 

However, Ecom Express's sales CAGR was lower than the industry average, and its EBT loss increased twofold in FY2022-24, unlike Delhivery, which narrowed its losses by 21%.

Besides, Delhivery's operating leverage scale is three times higher than Ecom Express as the firm benefits from synergies in the part truckload segment.

Ecom Express's top five clients accounted for 75% of its FY24 sales, compared to 34% for Delhivery. Interestingly, Ecom Express has 6,384 clients, one-fifth of Delhivery's client base.

The Gurugram-based firm's contract manpower cost rose at 39 percent CAGR (FY22-24), higher than its volume CAGR (18%) due to the increasing proportion of gig workers.

As per the DRHP of Ecom Express, Ecom Express had 70,000 employees as of March 2024, with only 22 percent being full-time employees.

India's online penetration was 6.5 percent in FY24 as compared to 31 percent in China and 16 percent in the US.

InCred Equities report highlighted that Flipkart and Amazon (loss-making over FY15-23) have a market share of 70 percent in Indian e-commerce. However, the market share of third-party logistics dipped to 44% in FY24, partly due to the start of captive logistics by Meesho - Express. InCred Equities has expected a dip in the market share of 3PL firms in FY25 as Meesho insources more logistics.

"We believe this is a risk for 3PL (even beyond FY25) if e-commerce players start/ increase captive logistics," the research and trading services firm argued. Notably, Delhivery Express cargo dipped 1% year-on-year in the last six months.

Ecom Express plans to raise Rs 2,600 crore via its IPO. Backed by Warburg Pincus, Partners Group, and British International Investment, the IPO is a combination of fresh issuance of shares worth Rs 1,284.5 crore and an offer-for-sale (OFS) of up to Rs 1,315.5 crore by promoters and investors.
