Asia Tech Wire (Oct 11) -- BlackRock and the Government of Singapore Investment Corporation (GIC) will invest in Hyundai Motor India's IPO, according to Bloomberg, citing people familiar with the matter.

Hyundai Motor's Indian subsidiary had previously announced the date of its initial public offering (IPO), with subscriptions opening from October 15th to October 17th.

On Wednesday, Hyundai Motor India set a price range for the offering between Rs. 1,865 (about $22) and Rs. 1,960 (about $23) per share, putting the valuation at nearly $19 billion.

Its parent company Hyundai Motor will sell as many as 142.2 million shares in the IPO, raising funds in the range of Rs. 265.05 billion to Rs. 278.56 billion.