Hyundai Motor Co aims to raise up to $3.3 billion through an IPO of its Indian subsidiary, setting a record in the country. The IPO values the unit at

Hyundai Motor India has set its IPO price band between Rs 1,865 and Rs 1,960 per share, aiming to raise Rs 27,870 crore. The offering, one of the largest in recent times, is generating strong demand with a grey market premium of Rs 147 per share,

Hyundai aims to raise $3.3 billion in its initial public offering of its India unit, reports said Tuesday, which would make it the country's biggest stock market debut.

Hyundai Motor India's IPO will open next week for subscriptions and will likely be priced in the range of 1,865 to 1,960 rupees ($22 to $23) per share, sources said on Tuesday, valuing the automaker at up to $19 billion in the country's biggest stock offering this year.

The IPO of Hyundai Motors India will be entirely an offer for sale by South Korean auto major Hyundai Motor Company, who will offload up to 14,21,94,700 equity shares.

Hyundai India IPO, which is set to be the country's largest IPO so far, is a pure offer-for-sale by South Korean parent Hyundai Motor Co.

The Indian unit of the South Korean company - Hyundai Motor Company is valued at Rs 1.59 lakh crore at the upper price band. The parent firm will hold 82.5 percent stake in the Indian unit post issue.

Hyundai Motor said in a regulatory filing on Tuesday that it will sell 142 million shares it holds in Hyundai Motor India for the latter's initial public offering. The South Korean automaker said it will still hold 670 million shares in Hyundai Motor India,

Hyundai Motor India's IPO will open next week for subscriptions and will likely be priced in the range of 1,865 to 1,960 rupees ($22 to $23) per share, sources said on Tuesday, valuing the automaker at up to $19 billion in the country's biggest stock offering this year.

Hyundai Motor Co. is seeking to raise as much as $3.3 billion through an initial public offering of its Indian unit, people familiar with the matter said, kicking off the country’s biggest-ever listing.

The USD 3 billion IPO will open for subscriptions for big institutional investors on Oct. 14, and invite bids from retail and other categories during Oct. 15-17, said three sources with direct knowledge,