Hyundai Motor Co. is seeking a valuation of $19 billion for the initial public offering of its India unit, people familiar with the matter said, in what could be the nation’s biggest share sale.

Hyundai is expected to file updated documents with India's market regulator, the Securities and Exchange Board of India (Sebi), possibly as soon as Monday.

Hyundai Motor India plans to launch a Rs 25,000-crore IPO on Oct 14, marking India's largest share sale since LIC's in 2022. The IPO, comprising entirely of an Offer-for-Sale (OFS) of shares by promoter Hyundai Motor Company,

Hyundai MOBIS has broken ground on a $52 million project to build a 460,000-square-foot facility in Montgomery. Located adjacent to the existing Hyundai MOBIS campus on Mitchell Young Road, the planned Class-A distribution center will support the aftermarket parts needs of both Hyundai and Kia vehicles.

The expansion pushes MOBIS' employment over 1,500 workers and its total investment in Montgomery to nearly a half-billion dollars.