From Living Good to Listing Great: LG India's Mammoth IPO Approved

LG Electronics India has been given the go-ahead by SEBI to proceed with its long-awaited IPO, which could raise around Rs 15,000 crore. The draft red herring prospectus was filed in December 2024 for an offer consisting of 10.18 crore shares out of which it will be an offer-for-sale by the parent company, LG Electronics Inc.

 

Consequently, there will be a 15% dilution of the promoter's shareholding, possibly making the offering India's fifth largest of all time. Among consumer goods, LG Electronics India is a leading company in the refrigerator, washing machine, and microwave oven markets, while it also retains strong positions in air conditioners and televisions. It is right time for the company to float the IPO as big offers are in plenty this time in India's capital markets. Morgan Stanley, JPMorgan, Axis Capital, BofA Securities, and Citi are acting as the IPO's joint bookrunners, which is further expected to showcase LG's strong commitment to the Indian market and the Make in India initiative. 

 

Source: The Economic Times