Upcoming IPO: LG Electronics India receives SEBI nod to raise ₹15,000 crore via OFS; Details here

Upcoming IPO: LG Electronics India Ltd, a subsidiary of the South Korean company Chaebol LG, has received approval from the capital markets regulator Securities and Exchange Board of India (SEBI) for its ₹15,000 crore initial public offering (IPO). According to news agency PTI, LG Electronics India Ltd has received SEBI's approval to float its IPO soon.

LG Electronics India Ltd. will be the second South Korean company listed on the Indian stock market, following Hyundai Motors India's listing in October 2024. In December, LG Electronics India filed its preliminary draft red herring prospectus (DRHP) with SEBI for an IPO in which the parent company will sell over 10.18 crore shares, amounting to a 15 per cent stake.

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LG Electronics India IPO Details

According to PTI, LG Electronics India Ltd did not disclose the total issue size, but they said the pegged IPO size is ₹15,000 crore. Since the public issue is completely an offer for sale(OFS), LG Electronics India will not receive any IPO proceeds. The funds raised will go to the South Korean parent.

Morgan Stanley India, J P Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are the book-running lead managers for the issue. Last month, LG Electronics started roadshows for the upcoming IPO of its Indian unit. 

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LG Electronics India Company Details

LG Electronics India is a leading player in major home appliances and consumer electronics. The company's products are sold to B2C and B2B customers in India and abroad. It also provides installation, repair, and maintenance services for all its products.

The company manufactures and sells products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. It has manufacturing units in Noida, Uttar Pradesh, Pune, and Maharashtra. On the financial front, LG Electronics India's revenue from operations was ₹64,087.97 crore for the financial year ended March 31, 2024.

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