LG Electronics India is gearing up for its big moment in the stock market. The company’s initial public offering, or IPO, kicks off for public subscription on October 7, giving investors a chance to buy in.
First up, the anchor investor portion opens on October 6 for one day. Then, everyday folks can subscribe from October 7 through 9. The South Korean parent company, LG Electronics Inc., plans to sell up to 10.18 crore shares through an offer-for-sale, or OFS. No new shares will hit the market—it’s all about the promoter cashing in and getting the company listed on India’s top exchanges.
The main goal here? Help the parent offload shares and debut LG Electronics India’s stock on the BSE and NSE. Details on the price band are still under wraps for now.
Once subscriptions wrap up, share allotment happens by October 10. That means the stock could start trading as early as October 14, exciting news for those eyeing opportunities in the Indian home appliances sector.
LG Electronics shared earlier this week that it aims to wrap up the IPO next month to fuel the subsidiary’s growth. Industry watchers, citing Yonhap news agency, peg the IPO’s value at around 1.8 trillion won, or about $1.28 billion. The board already greenlit selling a 15% stake in the process.
This move builds on steps LG took last December when it filed for the IPO. In March, India’s markets regulator SEBI gave conditional approval. The expected windfall even tops LG Electronics’ own cash pile of 1.1 trillion won as of June’s end.
Analysts at Moody’s Investors Service say listing the Indian unit will boost LG Electronics’ overall financial health. It’s a smart play in a booming market for consumer electronics and appliances in India.
Timing-wise, LG Electronics India’s IPO slots in as the second big one next week. It follows hot on the heels of Tata Capital’s massive Rs 15,512-crore IPO, which opens October 6. Investors are buzzing about these fresh chances in the IPO space.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
