KuberGrow Team LG Electronics India-is a well-known giant in home appliances and consumer electronics in India. Recently the company gave official confirmation from SEBI that the awaited IPO now stands at ₹15,000 crore.
It is a historic moment because it will be the second company from South Korea to get listed on Indian exchanges; Hyundai Motors India went for a huge listing through the route last year. An IPO entirely for sale (OFS) will see LG Electronics India, the parent company, sell more than 10.18 crore shares, a stake of over 15%. However, it is an OFS, which means that LG Electronics India won’t really get dollars from the IPO- it will go straight into the South Korean parent company.
With the draft papers submitted in December 2024, LG is now set to take the next step toward its market entry, signing off on the necessary regulatory clearances. The company has already begun roadshows to drum up investor interest, signaling that the public issue could hit the markets soon.
A house known to manufacture domestic products, LG Electronics, India, is a household name. Alongside the world’s greatest production base at Noida, Uttar Pradesh, and Pune, Maharashtra, a consumer could procure a washing machine, refrigerator, inverter air-conditioner, microwave, and LED TV, to mention a few.
From a financial perspective, the company has been on a strong wicket, having reported ₹64,087.97 crore as revenue for the financial year ended March 31, 2024. All eyes now are on LG’s next move, with the likes of Morgan Stanley India, J. P. Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India managing the IPO.
The buzz in the investing world is the IPO approaching. Will it be the next big thing to hit the stock market? Watch this space!
