Asia Tech Wire (June 11) -- South Korean auto giant Hyundai Motor Co is planning to file for an IPO for its Indian arm as soon as this month, according to Bloomberg.

Citing people familiar with the matter, the report said Hyundai Motor India Ltd. (HMIL) is looking to raise about $2.5 billion in the IPO, which may make it one of the largest IPOs ever in India.

Hyundai may seek a valuation of up to $25 billion for its Indian subsidiary, the people said.

The Korean automaker aims to file a draft red herring prospectus (DRHP) for the IPO of its Indian arm with the Securities and Exchange Board of India (SEBI) by the end of June or July, a report said in late May.