By Dhwani Pandya MUMBAI (Reuters) -Hyundai Motor plans to use proceeds from a $3.3 billion IPO of its Indian unit to enhance its research efforts and develop new cars, aspiring to transform the South Asian country into a manufacturing hub for emerging markets.

BlackRock Inc., Singaporean sovereign wealth fund GIC Pte and Capital Group are among those that have made bids to buy stock in Hyundai Motor India Ltd.’s $3.3 billion initial public offering, according to people familiar with the matter.

Hyundai will roll out a $3.3 billion initial public offering of its India unit next week, executives said Wednesday, the biggest stock market debut in the world's fastest-growing major economy.

Hyundai Motor India will launch its IPO next week, marking parent Hyundai's first listing outside South Korea and India's first carmaker IPO since 2003.

Hyundai Motor India Ltd's initial public offering (IPO), the largest in the country's history, will open for public subscription on October 15 and conclude on October 17

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.

Global investment giants BlackRock Inc., Singapore's sovereign wealth fund GIC Pte, and Capital Group have reportedly bid for shares in Hyundai Motor India Ltd.'s upcoming initial public offering (IPO) .

Hyundai Motor plans to use proceeds from a record $3.3 billion IPO of its Indian unit to enhance its research efforts and develop new cars, aspiring to transform the South Asian country into a manufacturing hub for emerging markets.

Baillie Gifford and FMR are also looking to participate in the record-breaking offering in Mumbai, the people said, asking not to be identified as the information isn't public

The Rs 27,856 crore IPO of Hyundai Motor India shall open for bidding between October 15-17 as it will sell shares in the range of Rs 1,865-1,960 apiece with a lot size of 7 shares.

Hyundai Motor's Indian unit will launch its $3 billion initial public offering next week, set to be the country's largest-ever IPO by issue size, in a red-hot stock market.Around 260 companies have raised more than $9 billion so far in 2024,