LG Electronics India to file for IPO to lift over ₹15,000 crore: Report

“The e-filing of the draft crimson prospectus with Sebi (Securities and Alternate Board of India) is more likely to be completed shortly. It is a actually massive deal and the difficulty dimension is anticipated to be round $1.8 billion or ₹15,237 crore,” an individual conscious of the event informed Moneycontrol.

The IPO is a pure OFS (provide on the market) by the guardian firm, a second particular person informed the web site.

Based on two different individuals, funding banks engaged on the deal embody Morgan Stanley, JP Morgan, Axis Capital, Citi, and Financial institution of America (BofA) Securities.

Additionally they stated, “Shardul Amarchand Mangaldas is the lawyer for LG Electronics, whereas Cyril Amarchand Mangladas is representing the banks. The Indian market has attracted multiples, and a public itemizing would result in a stronger India connection.”

If plans do materialise, the general public problem of LG Electronics India can be among the many prime 5 IPOs within the nation, a membership which at present consists of Hyundai Motor India, Life Insurance coverage Company (LIC), Paytm and Coal India.

As per an October 29 report within the Enterprise Commonplace, LG Electronics India’s income noticed a 7% leap to ₹21,557 crore in FY24, whereas the online revenue rose 12% to ₹1,511 crore throughout this era.

Of the corporate’s income, 27% got here from the gross sales of fridges, adopted by washing machines (21%) and 20% every by televisions and air conditioners.