LG Electronics India receives approval for IPO expected to raise over ₹15,000 crore

Table of Content


The Indian unit of LG Electronics is understood to have received the final observations and hence the go-ahead from the Securities and Exchange Board of India for its initial public offer, which is expected to be over ₹15,000 crore, sources said.

The South Korean consumer durables giant filed the draft prospectus for a listing in India in December last year. The entire issue is through an offer for sale with the parent company selling up to 10.18 crore shares, or 15 per cent of the post-offer paid-up capital.

No amount was mentioned in the prospectus and sources with knowledge of the matter said that the parent company LG Electronics Inc was looking to sell shares worth over ₹15,000 crore in the issue.

When contacted an LG India spokesperson declined to comment.

This will be the second Korean company to list in India, after Hyundai Motor India listed last year with a record ₹27,870 crore issue.

LG Electronics sells a range of consumer durables and white goods including televisions, refrigerators, washing machines, air conditioners, audio and video devices as well as home appliances.

In FY24, the Indian unit reported a net profit of ₹1,511 crore on a revenue of ₹21,352 crore, according to the draft prospectus. For the three months to June 2024 the company had a net profit of ₹679.6 crore and revenue of ₹6,466.8 crore.

In its draft filing the company said it was the market leader in India in major home appliances and consumer electronics in volume terms.





Source link

AIMPWA

mmkrishnandasu@gmail.com http://msmenews.sbs

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent News

Trending News

Editor's Picks

Kerry Washington invests in wedding marketplace Cheersy

Kerry Washington is expanding her angel investment portfolio, serving as lead investor in the pre-seed round of the wedding marketplace Cheersy.  Cheersy, which was founded in 2024 by Amy Shack Egan, helps couples find day-of service wedding coordinators and has raised a total of $550,000, from other investors including Christina Tosi, the founder of Milk...

Tax changes in budget will increase bank deposits by ₹40,000-45,000 crore: DFS secretary M Nagaraju

The finance ministry expects ₹40,000-45,000 crore to flow into banks as deposits from the various tax changes announced in the Budget, including raising the tax-free income level to ₹12 lakh, financial services secretary M Nagaraju said during a media interaction on various Budget proposals on Monday. Union Budget 2025, which finance minister Nirmala Sitharaman presented...

Tata-Group auto major plans ₹2,000 crore fund raise via NCD issue on THIS date, stock down 12% YTD; Buy or sell?

Tata Motors Ltd announced that its board will meet on Wednesday, March 19, to consider a fund raising proposal up to ₹2,000 crore. The leading manufacturer of domestic and commercial vehicles said the fund raising will be done through the issuance of rated, listed, unsecured, redeemable, Non-Convertible Debentures on a private placement basis. Tata Motors’...

ALL INDIA MSMES PROMOTION AND WELFARE ASSOCIATION

Quick Links

Popular Categories

Must Read

AIMPWA © 2025- All Right Reserved. Designed and Developed by  growGX.com