HD Construction Equipment Co., Ltd. to Produce 5,000 Units a Year in India by 2030... 87.7 Billion Won Rights Offering

[Financial News] HD Construction Equipment Co., Ltd. has decided to carry out a paid-in capital increase for its Indian subsidiary. The move is aimed at reaching an annual production target of up to 5,000 industrial vehicles by 2030.
On the 31st, HD Construction Equipment Co., Ltd. disclosed that its Indian subsidiary, a consolidated unit, had decided on an 87.7 billion won rights offering. The company will issue 11,761,180 new shares through a third-party allotment, with HD Hyundai XiteSolution, the intermediate holding company for HD Hyundai's construction equipment division, taking part.
All of the funds raised through the rights offering will be used for facility investment. Of the total, 47.8 billion won will go toward building a production base for the 2030 target of 5,000 units a year, while 39.9 billion won will be invested in establishing an R&D center from 2027 to 2030.
The decision appears to reflect confidence in the growth potential of the Indian market. The industrial vehicle market has been growing at an average annual rate of 5% to 6%, supported by the Government of India's policies to expand transportation and logistics infrastructure. Global market researchers and others forecast that the market will exceed $10 billion by 2033.

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