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.

With a groundbreaking initial public offering (IPO) of ₹25,000 crore ($3 billion), Hyundai Motor India is poised to accelerate the pace of the Indian stock market.

Hyundai is India's second largest carmaker in India after Maruti Suzuki and is looking to reclaim market share from domestic rivals by expanding its SUV lineup.

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 is set to launch its initial public offering (IPO) next week, pricing shares between Rs 1,865 and Rs 1,960, potentially valuing the automaker at $19 billion. This marks its first listing outside South Korea and the first by an Indian carmaker in two decades.

Hyundai Motor Co. said Tuesday it has decided to sell a 17.5 percent share in its Indian subsidiary for the initial public offering (IPO) it plans for this year. The South Korean automaker said in a regulatory filing it will sell 142.

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,