(The) IPO will ensure that Hyundai Motor India is even more dedicated to success in India," Kim told a press briefing in Mumbai on Wednesday. The IPO, the world's second-biggest in 2024, comes as Indian stock markets scale record highs. Hyundai is India's second-largest carmaker by sales, with about 15 per cent share of the country's passenger vehicle market versus Maruti Suzuki's more than 40 per cent share. Since entering the Indian market 28 years ago, it has gained popularity for its affordable cars such as the Santro and sports-utility vehicle Creta. The company plans to launch new electric vehicles, establish charging stations and introduce hybrid cars in India starting in 2027. The IPO, to be priced in the range of 1,865 to 1960 rupees, opens on Monday for big institutional investors, and on Oct. 15-17 for retail and other categories. The stock is set to start trading in Mumbai on Oct. 22.