Hyundai Motor India Ltd (HMIL) has filed draft papers with SEBI for its initial public offering (IPO), aiming to raise approximately Rs 25,000 crore ($3 billion). The IPO, expected to be India’s largest, will see Hyundai selling 14.2 million shares, constituting a 17.5% stake. The offering, conducted via an “offer for sale,” marks Hyundai’s first listing outside South Korea and aims to bolster local market presence and fund expansion plans, including ventures into electric vehicles (EVs) and infrastructure. HMIL’s recent initiatives include acquiring General Motors India’s Talegaon Plant and targeting a production capacity milestone of 1 million units annually.