LG Electronics India IPO opens on October 7: Key details
What's the story
LG Electronics India, a leading player in the consumer electronics and home appliances sector, is gearing up for its Initial Public Offering (IPO). The issue will open on October 7 and close on October 9. The offer will see its parent company, Korea-based LG Electronics Inc., offload up to over 10 crore equity shares through an Offer For Sale (OFS), with the expected value of the shares being around ₹11,500 crore.
Equity sale
One of the biggest IPOs this year
The IPO will see LG Electronics Inc. offload up to 10.18 crore equity shares, or roughly 15% equity, through an OFS. The move is part of the company's strategy to list its shares on Indian stock exchanges, with the proceeds from the sale going to the parent company. Notably, this would be one of the biggest IPOs of the year after Tata Capital's ₹15,512-crore public issue opening on October 6.
IPO details
Merchant bankers managing the public issue
The anchor book for the LG Electronics India IPO will open on October 6, a day before the public issue opens. Axis Capital, Citigroup Global Markets India, Morgan Stanley India Company, JP Morgan India, and BofA Securities India are the merchant bankers managing this high-profile public issue. As of now, the price band for the LG Electronics India IPO has not been officially announced.