LG Electronics India secures SEBI approval for IPO

LG Electronics India Ltd has received approval from India’s market regulator, SEBI, for an initial public offering (IPO) aimed at raising ₹15,000 crore. This marks the company's official step towards entering the Indian stock market, making it the second South Korean company to do so after Hyundai Motors India Ltd listed in October. The IPO involves the sale of over 10.18 crore shares, which represents a 15% stake in LG Electronics India. It is important to note that this IPO will be an offer for sale, meaning the funds raised will go to the parent company in South Korea, not to LG Electronics India itself. Recently, LG Electronics has started promotional roadshows for the upcoming IPO. The company is well-known in India for its home appliances and consumer electronics, manufacturing products like washing machines, refrigerators, and air conditioners. In the financial year that ended on March 31, 2024, LG Electronics India reported total revenue of ₹64,087.97 crore. Several leading investment firms, including Morgan Stanley and JP Morgan, are managing the IPO process.