Hyundai Adds More Banks for Possible Record India IPO.

Hyundai Motor Co. has enlisted the help of Kotak Mahindra Bank Ltd. and Morgan Stanley as advisers for a potential initial public offering (IPO) of its India unit. The IPO, which could raise around $2.5 billion, would be one of the largest ever in India. Hyundai Motor India Ltd. is planning to file for the IPO in June, with the listing potentially raising as much as $3 billion. The lineup of banks involved may still change, and no final decision has been made on the size and timing of the share sale. If the IPO proceeds, Hyundai will use the funds to expand its operations. [Extracted from the article]