By Aditya Kalra and Scott Murdoch

NEW DELHI/HONG KONG, Oct 8 (Reuters) - Hyundai Motor

India's IPO will open next week for subscriptions and will

likely be priced in the range of 1,865 to 1,960 rupees ($22 to

$23) per share, sources said on Tuesday, valuing the automaker

at up to $19 billion in the country's biggest stock offering

this year.

The India IPO will be Hyundai's first stock market listing

outside South Korea. In India, it will also mark the first

carmaker to go public in two decades since Maruti Suzuki

in 2003, and comes just after Indian stock markets

touched record highs and saw many companies making

debuts.

The $3 billion IPO will open for subscriptions for big

institutional investors on Oct. 14, and invite bids from retail

and other categories during Oct. 15-17, said three sources with

direct knowledge, who declined to be named as the discussions

are confidential.

At the upper end of the price band, the company will roughly

be valued at $19 billion, the sources said, adding the stock is

set to start trading in Mumbai on Oct. 22.

Hyundai did not immediately respond to Reuters queries.

Hyundai is India's second largest automaker after Maruti and

is looking to reclaim market share from domestic rivals by

expanding its SUV lineup.

It also plans to launch its first India-made electric

vehicle early next year and introduce at least two

gasoline-powered models tailored to the market starting in 2026.

Hyundai will not issue new shares in the IPO which will

involve its South Korean parent selling up to 17.5% of its stake

in the wholly owned unit to retail and other investors via a

so-called "offer for sale" route.

The South Korean automaker said on Tuesday it will still

hold 670 million shares in Hyundai Motor India, or an 82.5%

stake, after the IPO.