By Dhwani Pandya MUMBAI (Reuters) -Hyundai Motor plans to use proceeds from a record $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.

As Hyundai Motor India gears up for its IPO, it emphasizes its continuing focus on premium vehicles and electric models citing evolving consumer demands. Recent trends, however, signal that customer exuberance in India may be coming to an end.

Hyundai Motor India will launch its initial public offering (IPO) on October 15, marking a historic moment for the Indian capital market. This IPO is set to be the biggest in India this year, aiming to raise between ₹26,