The Indian subsidiary of South Korean giant LG Electronics has officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). This move follows the landmark ₹27,870-crore IPO by Hyundai India two months ago, which marked the largest IPO in Indian history.
The LG Electronics India IPO is an Offer for Sale (OFS) involving up to 101,815,859 equity shares, each with a face value of ₹10. The selling shareholders will divest their equity stakes through this offering. While the IPO subscription dates and price band are yet to be announced, the shares will be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
The IPO’s primary objectives include enabling existing shareholders to monetise their investments and achieving the benefits of stock exchange listing.
The process will be managed by lead book-running managers such as Morgan Stanley India, J.P. Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India, with KFin Technologies Limited acting as the registrar.
LG Electronics India is the market leader across multiple product categories, including washing machines, refrigerators, panel televisions, inverter air conditioners, and microwaves.
LG Electronics India has held the top spot in this industry for 13 consecutive years (2011–2023) based on value market share in the offline channel. This channel accounts for ~80% of the Indian home appliances and consumer electronics market (excluding mobile phones). For the six-month period ending June 30, 2024, LG also led in terms of volume in major appliances, underscoring its sustained leadership.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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