LG Electronics India gets SEBI approval for IPO
LG Electronics India Limited has received final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering. The company, a subsidiary of South Korea’s LG Electronics Inc., had filed its IPO papers on December 6, 2024.
The IPO will be structured entirely as an offer for sale of up to 10.18 crore equity shares by its parent company, with each share having a face value of ₹10.
LG Electronics India has been the market leader in India’s home appliances and consumer electronics sector for 13 consecutive years from 2011 to 2023 in the offline channel. The company reported a revenue of ₹21,352 crore for fiscal 2024, up from ₹19,868.24 crore in the previous year. Profit after tax increased by 12.35 per cent to ₹1,511.07 crore.
The company holds dominant market positions across various product categories including washing machines, refrigerators, televisions, air conditioners, and microwaves. It operates through 36,401 B2C touchpoints and 949 service centers nationwide.
Morgan Stanley India, J.P. Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are serving as book-running lead managers for the offering, with KFin Technologies as the registrar.
