LG Electronics India Ltd, the Indian subsidiary of South Korea’s LG Electronics Inc, has filed draft papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO). The IPO will be a complete offer for sale (OFS) of 10.18 crore equity shares by the parent company, LG Electronics Inc, without any fresh issue of shares. Post-IPO, LG Electronics Inc’s stake in its Indian arm will reduce by 15%, leaving it with 57.69 crore shares.
As the IPO is entirely an OFS, the company will not directly benefit from the proceeds. However, the company believes the listing will enhance its visibility, strengthen its brand, and provide liquidity through a public market for its shares. A leading name in home appliances and consumer electronics, LG Electronics India serves both B2C and B2B markets, offering products alongside installation, repair, and maintenance services.
Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are the book-running lead managers for the issue. This IPO will make LG Electronics India the second Korean Chaebol to list in India, following Hyundai Motors India Ltd. For the fiscal year ending March 31, 2024, the company reported revenues of ₹64,087.97 crore.
LG Electronics India, a subsidiary of the South Korean conglomerate the company, is one of India’s leading consumer electronics and home appliances companies. Since its entry into the Indian market in 1997, it has become a household name, offering a diverse range of products including televisions, refrigerators, washing machines, air conditioners, and mobile devices.
Known for its commitment to quality, innovation, and customer satisfaction, the company has continually introduces technology-driven products tailored to the preferences and needs of Indian consumers, such as energy-efficient appliances and air purifiers designed for the country’s climate.
LG has established an extensive distribution and service network across India, ensuring accessibility and reliable after-sales support. With a focus on sustainability, the company has integrated eco-friendly practices and energy-saving technologies into its operations and products. LG Electronics India remains dedicated to enhancing the lifestyles of its customers through advanced technology and exceptional service.
