LG Electronics India Eyes $1.3B IPO Amidst Indian Consumer Boom: Forbes

LG Electronics India, a subsidiary of LG Electronics, is planning an initial public offering (IPO) to raise up to 116 billion rupees ($1.3 billion), according to Forbes. The IPO seeks to leverage the expanding Indian consumer market through the sale of approximately 101.8 million shares, representing a 15% stake in the company. The price range is set between 1,080 and 1,140 rupees per share, valuing LG Electronics India at 774 billion rupees. The book-building process is scheduled to commence next Monday and conclude on Thursday, with trading anticipated to begin on the National Stock Exchange of India on October 14. LG intends to use the IPO proceeds to significantly expand its manufacturing capacity in India, aiming to double it within five years and establish the country as a global manufacturing center. This expansion includes a new $600 million factory under construction in Sri City, Andhra Pradesh, expected to be operational by the end of 2026. LG boasts an extensive distribution network across India, encompassing over 35,000 sales points, positioning it as a leader in the home appliance and consumer electronics sectors. The company reported a 45% increase in net profit, reaching 22 billion rupees for the fiscal year ending in March. The LG India IPO joins a wave of significant public offerings in the Indian market, including Tata Capital's planned 155 billion rupee IPO and potential listings from Walmart-owned PhonePe and Reliance Jio. LG Electronics is part of LG Corp., a South Korean conglomerate controlled by Koo Kwang-mo.