LG Electronics India Secures SEBI Approval for ₹15,000 Crore IPO

LG Electronics India has received approval from the Securities and Exchange Board of India (Sebi) for its ₹15,000 crore initial public offering (IPO), making it the second South Korean company to list in India after Hyundai Motors. The IPO will involve an offer for sale of over 10.18 crore shares, representing a 15% stake, and all proceeds will go to the parent company, LG Electronics Inc. The company, a significant player in the consumer electronics market, reported a revenue of ₹64,087.97 crore for the financial year ended March 31, 2024. LG's products, including washing machines and air conditioners, are predominantly manufactured in India, showcasing its strong local presence. Leading financial institutions such as Morgan Stanley and JPMorgan are managing the IPO. This move comes amid strong demand for large IPOs in the Indian market.