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.

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.

With a groundbreaking initial public offering (IPO) of ₹25,000 crore ($3 billion), Hyundai Motor India is poised to accelerate the pace of the Indian stock market.

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 is India's second largest carmaker in India after Maruti Suzuki and is looking to reclaim market share from domestic rivals by expanding its SUV lineup.

Hyundai Motor India's IPO will mark 1st issue by any automaker since 2003 when Maruti Suzuki launched its public issue

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 India is reportedly set for a massive initial public offering (IPO). The IPO is said to be worth Rs 25,000 crore. As per reports, the IPO will open for subscriptions next week. The shares are anticipated to be priced between Rs 1,

Promoter Hyundai Motor Company will be selling 14.2 crore equity shares in the offer-for-sale, as per the RHP.

Hyundai Motor said on Tuesday it has decided to sell a 17.5 per cent share in its Indian subsidiary for the initial public offering (IPO) it plans for this year.