LG Electronics India Ltd, a subsidiary of South Korean conglomerate LG, has received SEBI approval for its ₹15,000 crore IPO. The offer is entirely an Offer for Sale (OFS), with proceeds going to the parent company. The IPO will make LG Electronics India the second South Korean firm to be listed on the Indian stock market.
LG Electronics India Ltd, a leading manufacturer of consumer electronics and home appliances, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO) worth ₹15,000 crore. The company, a subsidiary of South Korean conglomerate LG, is set to become the second South Korean firm to be listed on the Indian stock market after Hyundai Motors India.
IPO Details
LG Electronics India filed its Draft Red Herring Prospectus (DRHP) with SEBI in December 2024. The IPO will consist entirely of an Offer for Sale (OFS), with the parent company selling over 10.18 crore shares, representing a 15% stake. Since it is a complete OFS, LG Electronics India will not receive any funds from the issue. Instead, the proceeds will go to its South Korean parent company.
The book-running lead managers for the IPO include:
- Morgan Stanley India
- J.P. Morgan India
- Axis Capital
- BofA Securities India
- Citigroup Global Markets India
In preparation for the IPO, LG Electronics India conducted roadshows last month to attract potential investors.
Company Overview
LG Electronics India, headquartered in Noida, Uttar Pradesh, is a key player in the home appliances and consumer electronics sector. The company caters to both B2B and B2C markets, manufacturing and selling a wide range of products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. It operates manufacturing units in Noida, Uttar Pradesh, and Pune, Maharashtra.
For the financial year ending March 31, 2024, LG Electronics India reported revenue from operations of ₹64,087.97 crore, reflecting its strong market presence in India.
With SEBI’s approval, LG Electronics India is now set to move forward with its public listing, marking a significant milestone for the company and strengthening its footprint in the Indian stock market.
