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 will be looking to capitalise on India's booming stock market,

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,

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 in the filing that it will still hold 670 million shares in Hyundai Motor India,

Hyundai Motor India is set to make its debut on the Indian stock market next week, with its initial public offering (IPO) priced between ₹1,865 and ₹1,960 per share ($22 to $23), according to a Reuters report that quoted insiders familiar with the matter.