South Korea’s LG Electronics is preparing to bring an initial public offering (IPO) of its Indian unit. LG Electronics India has filed a draft red herring prospectus (DRHP) with market regulator Securities Exchange Board of India (SEBI) for the IPO. This information has been received from the BSE notification. According to a Moneycontrol report, LG Electronics India Private Limited will raise around $180 billion i.e. Rs 15,237 crore from the IPO. This issue is an offer for sale, through which 10.18 crore equity shares of face value of Rs 10 will be sold. The company will not get any income from the IPO. It will be one of the top-5 largest IPOs in the country so far With this issue size, this public issue will be one of the top-5 largest IPOs in the country so far. In the DRHP, Morgan Stanley, JP Morgan, Axis Capital, BofA Securities and Citigroup have been named as the lead managers of this issue. IPO may come in early 2025 next year According to reports, this IPO may come in early 2025 next year. After the IPO of around $180 billion, when the shares are listed, the valuation of LG Electronics India Private Limited may be around $13 billion. The company’s revenue target is $75 billion LG Electronics is bringing this IPO as a strategy, as the company has set a target of $75 billion electronics revenue by 2030 and this is part of the efforts to bring the consumer electronic business back on track. These things were said by the company’s CEO William Cho in an interview with Bloomberg Television in August.
