LG Electronics India plans $1.3bn IPO in October
LG Electronics India is gearing up for a major IPO this October, aiming to raise about ₹11,500 crore (roughly $1.3 billion) by selling a 15% stake through its parent company.
If all goes as planned, this would make it the third billion-dollar IPO in India this year.
Backed by South Korea's LG Electronics
A key player in India's consumer electronics scene, LG Electronics India is backed by South Korea's LG Electronics Inc.
The company is currently valued at around $9 billion—lower than last year's $15 billion target—and just got the green light from SEBI for its updated IPO plans.
LG to invest $600 million in new Andhra Pradesh factory
This offering won't bring in new shares; it's all existing stock from the parent firm.
Big names like Axis Bank and Morgan Stanley are among the advisers to the share sale.
On top of that, LG is investing $600 million over four years to set up a third factory in Andhra Pradesh, showing it's serious about growing its presence in India.