Hyundai Motor is set to line up Citi, JPMorgan for India unit IPO

Hyundai Motor Co. is set to hire banks including Citigroup Inc. and JPMorgan Chase & Co. for an initial public offering of its Indian unit that may raise about $2.5 billion, people familiar with the matter said, and rank among the country's biggest listings ever. India accounted for 13% of Hyundai's global sales last year.