LG Electronics India IPO Details
LG Electronics India’s proposed public offering contains an exclusive Offer for Sale (OFS) as its funding mechanism. LG Electronics will sell over 10.18 crore shares, amounting to 15% of the Indian unit, through a divestment process. Sources suggest that the overall issue size of LG Electronics India’s proposed public offering amounts to Rs 15,000 crore, according to undisclosed information in their Draft Red Herring Prospectus (DRHP).
LG Electronics has chosen to list publicly as the second South Korean company following Hyundai Motors India Ltd’s October 2024 entry. LG Electronics India will not obtain any funds from its initial public offering because the entire sale operates as an Offer for Sale which sends money directly to its South Korean parent corporation.
Company Performance & Market Leadership
The Indian subsidiary of LG Electronics entered operations in 1997 to become a leading consumer electronics market leader in the country. The company operates manufacturing and sales operations from Noida (Uttar Pradesh) and Pune (Maharashtra) where they produce washing machines, refrigerators, LED TVs, inverter air conditioners, and microwaves which they distribute to customers.
