Feb. 7, SEOUL (Reuters) - Hyundai Motor Co. of South Korea stated on Wednesday that it has not yet made a decision regarding listing its Indian subsidiary and that it will provide an update on the issue either one month from now, or when the plan is finalized.

Hyundai Motor stated in a regulatory filing that it "as a global company, we constantly review various measures, including listing overseas subsidiaries, to increase corporate value, but nothing has been decided."

According to Reuters on Tuesday, Hyundai Motor intends to list its Indian subsidiary in order to generate at least $3 billion through the largest initial public offering (IPO) in the nation.

Two sources who have been briefed on the topic claim that Hyundai Motor India is in early conversations with many banks regarding an initial public offering (IPO), including JP Morgan (JPM.N), Morgan Stanley (MS.N), and Bank of America (BAC.N).

Hyundai, the country's second-largest carmaker with a 15% market share, is raising money that may put the worth of its Indian business at as much as $30 billion—more than half of its $42 billion market capitalization in Seoul.

Hyundai Motor's stock had a 4.0% decrease at the closing on Wednesday, while the benchmark KOSPI increased by 1.3%.