HONG KONG, Sept 19 (Reuters) - Shares in China's largest auto rental company CAR Inc are set to rise 18 percent in their Hong Kong trading debut on Friday as investors who missed the initial public offering scramble for a piece of the deal.

The shares are indicated to open at HK$10, compared with their IPO price of HK$8.50, while the benchmark Hang Seng index was indicated to open up 0.7 percent.

CAR Inc, which is backed by private equity firm Warburg Pincus and Hertz Global Holdings Inc, raised $467 million after pricing the deal at the top of a HK$7.50 to HK$8.50 per share marketing range.

It was the biggest IPO in Hong Kong since the world's largest pork producer WH Group Ltd. raised $2.36 billion in late July.

The company plans to use most of the proceeds to buy up to 59,000 vehicles to more than double its fleet, with 19 percent set aside to pay down bank loans. The remainder of the funds will be used to develop new services and for working capital, CAR Inc said.

(Reporting By Elzio Barreto and Lawrence White; Editing by Stephen Coates)