LG India to Launch ₹15,000 Crore IPO: SEBI Grants Approval; Among India’s Top 5 Largest IPOs
South Korea’s LG Electronics is set to launch the initial public offering (IPO) of its Indian unit soon. The Securities and Exchange Board of India (SEBI) has approved the draft papers for LG Electronics India’s IPO.
The issue size of this IPO will be ₹15,000 crore. It will be an offer for sale (OFS), through which 10.18 crore equity shares with a face value of ₹10 each will be sold. The company itself will not receive any proceeds from the IPO.
Earlier, the company had filed the Draft Red Herring Prospectus (DRHP) with SEBI on December 19.
One of India’s Top 5 Largest IPOs
With this issue size, the IPO will be among the top five largest in India’s history. As per the DRHP, Morgan Stanley, JP Morgan, Axis Capital, BofA Securities, and Citigroup have been appointed as the lead managers for the issue.
Following this $1.8 billion IPO, LG Electronics India Pvt. Ltd. is expected to be valued at approximately $13 billion (₹1.10 lakh crore) upon listing.
Company Targets $75 Billion in Revenue
LG Electronics is launching this IPO as part of its strategic growth plan, aiming to achieve a revenue target of $75 billion (₹6.35 lakh crore) by 2030. This move aligns with the company’s efforts to strengthen its consumer electronics business. LG Electronics CEO William Cho had outlined these plans in an interview with Bloomberg Television in August.
