BlackRock Inc. and Singaporean sovereign wealth fund GIC Pte 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 Motor Co expects India to be a fast-growing market and plans to make it a global manufacturing hub, a top company executive said on Wednesday, as the South Korean carmaker gears up to launch its Indian IPO next week.

Hyundai Motor India is focusing on expanding model portfolio, with four EVs planned over next few years. In addition, there is scope for introducing global models in India.