Hyundai aims to raise up to $3.3 billion in record India IPO

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 $19 billion at the upper price range. The entire proceeds will go to the parent company. The listing opens for bids on October 15 and starts trading on October 22. The listing of Hyundai’s India unit is set to break the record set by Life Insurance Corp of India.