LG Electronics India Receives SEBI Nod for IPO

In a significant development, LG Electronics India, a subsidiary of the South Korean conglomerate LG, has been granted approval by the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO) worth Rs 15,000 crore. This move marks a pivotal moment for the company as it prepares to enter the Indian stock market.

Following Hyundai Motors India's Footsteps

This IPO will position LG Electronics India as the second South Korean company to tap into the Indian stock market, following the successful listing of Hyundai Motors India in October of the previous year. The company had filed preliminary papers with SEBI in December, proposing the sale of over 10.2 crore shares, which equates to a 15% stake in the company.

IPO Structure and Proceeds

It's important to note that the entire public issue is structured as an offer for sale, meaning that LG Electronics India will not directly benefit from the IPO proceeds. Instead, the funds raised will be allocated to the South Korean parent company, LG.