LG Electronics Plans ₹15,000 Crore IPO in India
LG Electronics is preparing for a significant IPO in the Indian stock market, aiming to raise ₹15,000 crore by offering 15% of its Indian arm (10.2 crore shares). The company received regulatory approval in March after filing in December. LG has revised its valuation expectations from $15 billion to $10.50-11.50 billion. The IPO is being managed by a consortium of leading financial institutions including Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India. This offering is set to be a major IPO in India and the second-largest by a Korean company in the country.
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LG Electronics, the South Korean tech giant, is preparing for a significant Initial Public Offering (IPO) in the Indian stock market. The company aims to raise ₹15,000 crore through this share sale, positioning it as a major IPO in India.
IPO Details
- Offering Size: ₹15,000 crore
- Shares on Offer: 15% of the Indian arm (10.2 crore shares)
- Regulatory Approval: Received in March, following December filing
Valuation Adjustments
LG Electronics has revised its valuation expectations:
- Initial Valuation: $15.00 billion
- Revised Valuation: $10.50-11.50 billion
Key Players
The IPO is being managed by a consortium of leading financial institutions:
- Morgan Stanley India
- JP Morgan India
- Axis Capital
- BofA Securities India
- Citigroup Global Markets India
These firms will serve as the book-running lead managers for the offering.
Market Context
LG Electronics' IPO is set to make a significant impact in the Indian market:
- It will be a major IPO in India.
- The offering will mark the second-largest by a Korean company in India, following Hyundai's IPO.
This move by LG Electronics underscores the growing interest of international tech giants in the Indian capital markets. The success of this IPO could potentially pave the way for more global companies to consider public listings in India, further boosting the country's position as an attractive destination for foreign investments.
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