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2w ago

LG Electronics Sets LG India IPO Price Band at ₹1,080–1,140, Opens Oct. 7

The all-offer-for-sale will raise up to ₹11,605 crore for the South Korean parent, which will retain 85% ownership and is aiming to strengthen its finances.

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LG Group's headquarters in western Seoul (Yonhap)
This photo taken Oct. 8, 2024, shows LG Group's headquarters in Yeouido, Seoul. (Yonhap)
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Overview

  • LG Electronics will offload up to 10.18 crore shares, representing 15% of LG Electronics India, implying a valuation of about ₹77,400–77,500 crore.
  • Anchor bidding is slated for Oct. 6, the public offer runs Oct. 7–9, allotment is tentatively Oct. 10, and listing is expected on Oct. 14 on the BSE and NSE.
  • The IPO is a pure offer-for-sale with no fresh issue, sending all proceeds—up to ₹11,605 crore—back to LG Electronics in Seoul, a move analysts including Moody’s view as credit positive.
  • Book-running lead managers are Morgan Stanley India, JPMorgan India, Axis Capital, BofA Securities India and Citigroup Global Markets India, with Kfin Technologies as registrar.
  • Investors can bid in lots of 13 shares, with 50% reserved for QIBs, 35% for retail and 15% for non-institutional investors, as the company advances plans to scale India as a manufacturing hub.