These seven related party transactions are worth ₹31,526 crore, with e-voting for these transactions scheduled on Wednesday and Thursday, March 12-13.
The seven transactions are between:
| Parties | Amount (₹ Cr) |
| Hyundai Motor India and Mobis India Ltd. | 12,525 |
| Hyundai Motor India and Hyundai Motor Co. | 4,607 |
| Hyundai Motor India and HTLAI Pvt. Ltd. | 2,560 |
| Hyundai Motor India and Kia India Pvt. Ltd. | 5,824 |
| Hyundai Motor India and HEC India LLP | 3,000 |
| Hyundai Motor India and Hyundai Motor de Mexico | 1,850 |
| Hyundai Motor India and PT Hyundai Motor Manufacturing Indonesia | 1,160 |
Proxy advisory firms though, are divided in their opinion.
Stakeholders Empowerment Services (SES) has voted against six out of the seven transactions. It said that proper scrutiny is not done to enable shareholders to take informed decisions. Additionally, the company has not even made proper disclosures with regards to these seven transactions.
On the flip side, Investor Advisory Services (IiAS) has voted in favour of all seven transactions. It said that the proposed transactions are being undertaken at arms length pricing and are in ordinary course of business.
It also expects Hyundai to give granular details regarding the rationale behind certain transactions.
“We are aware of the SES recommendations, and we are of the view that this is an isolated opinion. Another reputed proxy advisory firm IiAS has shared a contrary opinion to recommendations of SES, favouring all the seven resolutions and giving a clear go-ahead. Our commitment to the highest standards of corporate governance remains uncompromising, and we shall continue to uphold the interest of all stakeholders,” a Hyundai Motor India spokesperson told CNBC-TV18.
Out of the 19 analysts that have coverage on Hyundai Motor India, 16 of them have a “buy” rating, one has a “hold” rating, while one has a “sell” rating on the stock.
Shares of Hyundai Motor India are trading 1.55% lower on Monday at ₹1,688.8. The stock has declined further from its IPO price of ₹1,960.
First Published: Mar 10, 2025 9:59 AM IST
