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.

At the upper end of the price band, the IPO size will be ₹27,870 crore, which will surpass LIC's size of over ₹21,000 crore. The IPO will be a complete Offer For Sale (OFS), w

Hyundai Motor India is about to make history with a massive $3.3 billion initial public offering set for Oct. 22. This will be the largest IPO in Indian stock market history, and Hyundai plans to use the funds to ramp up production in the country and accelerate its push into the electric vehicle market.