Hyundai to sell up to 17.5% stake in up to $3b India unit IPO

Hyundai to sell up to 17.5% stake in up to $3b India unit IPO

REUTERS/Kim Hong-Ji

South Korea’s Hyundai Motor is looking to sell a stake of up to 17.5% in the planned initial public offering of its India unit to raise up to $3 billion, three sources familiar with the matter said, in what could be India’s biggest ever IPO.