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.

The IPO of Hyundai Motors India will be entirely an offer for sale by South Korean auto major Hyundai Motor Company, who will offload up to 14,21,94,700 equity shares.

The Indian unit of the South Korean company - Hyundai Motor Company is valued at Rs 1.59 lakh crore at the upper price band. The parent firm will hold 82.5 percent stake in the Indian unit post issue.

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, valuing the automaker at up to $19 billion in the country's biggest stock offering this year.

Hyundai India IPO, which is set to be the country's largest IPO so far, is a pure offer-for-sale by South Korean parent Hyundai Motor Co.

Hyundai Motor Co. is seeking to raise as much as $3.3 billion through an initial public offering of its Indian unit, people familiar with the matter said, kicking off the country’s biggest-ever listing.

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

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, valuing the automaker at up to $19 billion in the country's biggest stock offering this year.

Hyundai Motor India, which will be India's largest Initial Public Offering (IPO) till date, has fixed the price band for its public issue between ₹1,865 to ₹1,960 per equity share.