LG Electronics India to File Updated IPO Draft in May?

LG Electronics India is to submit an updated Draft Red Herring Prospectus (DRHP) to SEBI in early May. The Initial Public Offering (IPO) size is estimated at ₹15,000 crore and will be an offer-for-sale by LG Electronics Inc., the South Korean parent company.

IPO Structure and Shareholding

The public issue involves a 15% stake dilution by the parent. The entire equity share capital of the company is currently held by the promoter. As per the DRHP, the promoter holds 678,772,392 equity shares with a face value of ₹10 each. This includes six shares held by individuals acting as nominees for LG Electronics Inc.

Roadshows and SEBI Approval

The company has already conducted investor roadshows. SEBI granted its approval for the IPO in March 2025. The listing is expected to take place later in May, according to reports.

LG Electronics India reported a 14.8% increase in revenue for FY24, reaching $2.8 billion. Net profit rose by 43.4% compared to the previous year, according to regulatory filings.

Product Range and Services

According to reports, LG has an extensive product range in the consumer durables sector in India, excluding mobile phones. The company serves both B2C and B2B segments. It also provides after-sales services, including installation, repair, and maintenance.

The company operates two manufacturing facilities in India, one in Noida and another in Ranjangaon, Maharashtra. It is in the process of setting up a third plant in Sri City.

Read more: LG Electronics Prepares for $1.5 Billion India IPO with Roadshows

Listed Peers

As per the DRHP, listed peers include:

• Havells: P/E 85.48
• Voltas: P/E 221.53
• Whirlpool: P/E 111.65
• Blue Star: P/E 92.21

Conclusion

The updated IPO filing is part of LG Electronics India’s upcoming market activity, alongside ongoing manufacturing expansion and continued financial growth in FY24.

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