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LG Electronics India Set for Blockbuster IPO in October

LG Electronics India's IPO is one of the largest in recent times, reflecting the growing demand for appliances in the country. The successful completion of the offering could provide a significant boost to the company's expansion plans.

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LG Electronics India Set for Blockbuster IPO in October

LG Electronics India, the country's second-largest appliance maker, is set to make its stock market debut. The initial public offering (IPO) will see LG Electronics Inc. sell a 15% stake in its Indian subsidiary. The price band has been set at 1,080-1,140 rupees per share.

The IPO aims to raise up to 116 billion rupees ($1.3 billion) at the top of the price range. This would value LG Electronics India at up to 774 billion rupees ($8.71 billion). The company is not issuing new shares in the offering. Instead, LG Electronics Inc. is offloading a portion of its stake.

The Indian appliance market is expected to grow at a CAGR of 12% till 2029, presenting a promising outlook for the company. To boost demand, the Indian tax body has lowered consumption taxes on electronics to 18%.

The IPO was initially planned for May but was delayed due to market volatility. October is shaping up to be a busy month for IPOs in India, with several large offerings scheduled.

LG Electronics India's IPO is expected to be one of the largest in recent times, reflecting the growing demand for appliances in the country. The successful completion of the IPO could provide a significant boost to the company's expansion plans in India.

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