India's biggest IPO is set to hit the floors, with markets regulator Sebi approving the draft red herring prospectus of Hyundai Moto.

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,

If the listing plans fructify, this deal, a pure OFS or offer for sale by the promoter, would be India Inc's biggest-ever IPO and beat the earlier record set by state-owned LIC's $2.7 bn listing in 20

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India's biggest initial public offer is set to hit the floors, with market regulator Sebi approving the draft red herring prospectus of Hyundai Motor's Rs 25,000-crore offer of sale.The much-awaited IPO is expected to be launched in Oct,

This would make it the first carmaker to go public in India in two decades, following market leader Maruti Suzuki's IPO in 2003 India is the third-biggest revenue generator globally for Hyundai after the U.