India's biggest IPO by Hyundai Motors to raise $3 billion approved by SEBI: Report

Hyundai Motor India has received SEBI's approval for its IPO, according to reports. The South Korean automaker plans to raise $3 billion at a roughly $20 billion valuation in India's biggest-ever IPO, previous reports said. "This record-breaking IPO is likely to be launched in October," Moneycontrol reported citing a person aware of the development.