LG Electronics Begins Roadshows for $1.5 Billion IPO

LG Electronics has initiated roadshows in India to attract investors for its planned IPO, aiming to sell over 10.18 crore shares, which represents a 15% stake in its Indian subsidiary. The IPO could raise between $1 billion and $1.5 billion, valuing LG India at approximately $15 billion, making it one of the largest public offerings in India. The offering will be entirely an offer for sale (OFS) by the parent company, LG Electronics Inc., with no fresh issue component, meaning the proceeds will not benefit LG India directly. A draft red herring prospectus (DRHP) has been submitted to the Securities and Exchange Board of India (SEBI) and is currently under review. Following Hyundai Motors' successful IPO last year, this move marks LG as the second South Korean firm to list in the Indian market. Key financial institutions, including Morgan Stanley and JPMorgan, are involved in managing the IPO process.