By Dhwani Pandya MUMBAI (Reuters) -Hyundai Motor plans to use proceeds from a $3.3 billion IPO of its Indian unit to enhance its research efforts and develop new cars, aspiring to transform the South Asian country into a manufacturing hub for emerging markets.

Hyundai will roll out a $3.3 billion initial public offering of its India unit next week, executives said Wednesday, the biggest stock market debut in the world's fastest-growing major economy. Hyundai will be looking to capitalise on India's booming stock market,

Hyundai Motor India will launch its IPO next week, marking parent Hyundai's first listing outside South Korea and India's first carmaker IPO since 2003.