Hyundai unit files for India IPO that could be country’s biggest

NEW DELHI -South Korea’s Hyundai Motor is looking to sell a stake of up to 17.5% in the initial public offering of its India unit, draft papers filed with the country’s markets regulator showed on Saturday, in what could be India’s biggest ever IPO.

Hyundai Motor will offer up to 142 million shares for sale in the IPO from a total of 812 million, according to the filing with the Securities and Exchange Board of India (SEBI).