An illuminated sign above the LG Electronics booth at a trade fair in Berlin.
(Bloomberg) — LG Electronics Inc.’s India arm is set to launch its initial public offering on Oct. 7, and is seeking a valuation of as much as 774 billion rupees ($8.7 billion).
Most Read from Bloomberg
The South Korean white goods manufacturer is offering as many as 101.8 million shares, or a 15% stake, for 1,080 rupees to 1,140 rupees each, according to a newspaper advertisement. Bloomberg News earlier reported the details.
The offering would raise about 116 billion rupees at the top of the price range. At peak valuation, the IPO may make the LG unit the number one household appliances firm on Indian bourses by market value.
It is set to become the fourth billion-dollar IPO to hit India’s market in 2025 after HDB Financial Services Ltd., Hexaware Technologies Ltd. and Tata Capital Ltd. The latter’s 155 billion-rupee equity sale will open on Oct. 6. The broader market has struggled this year, though that hasn’t dampened the demand for new issues.
Companies raised over $11 billion rupees through IPOs, about a fifth more compared with the same period last year, according to data compiled by Bloomberg.
LG Electronics India Ltd. got regulatory approval for its updated draft red herring prospectus last Thursday and filed the final version on Tuesday. Axis Bank Ltd., along with the Indian units of Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., are the advisers to the share sale, according to the draft prospectus.
Most Read from Bloomberg Businessweek
©2025 Bloomberg L.P.
Discover more from PressNewsAgency
Subscribe to get the latest posts sent to your email.