Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation,

Hyundai Motor India is set to make a significant splash in the Indian IPO market. The South Korean automaker has secured SEBI approval for its $3 billion IPO, valuing the company at around $20 billion.

As has been seen calendar year has turned out to be the biggest year for the primary market with a number of issues hitting the street. Already, India Inc. has succeeding in amassing the amount as mopped last year as per reports.

India's market regulator has approved an initial public offering of Hyundai Motor India , two sources with direct knowledge of the matter told Reuters.

The Securities and Exchange Board of India (SEBI) has approved Hyundai Motor India's $3 billion (around Rs 25,000 crore) IPO after the country's second largest auto major filed draft papers in June. Hyundai IPO will the India's biggest ever listing,

Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, has received capital markets regulator Sebi's approval to float an initial public offering (IPO), people familiar with the development said on Wednesday.

Hyundai Motor India approved for IPO, aiming to raise $3 billion, expand SUV lineup, and launch electric vehicle.

Hyundai Motor India has obtained approval for its initial public offering from the Securities and Exchange Board of India, according to two sources familiar with the situation. The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation, sources previously told Reuters.

Hyundai has maintained a consistent market share between 15 per cent and 17 per cent since 2008, reinforcing its position as the second-largest automaker in India.