Sebi clears Korean major LG’s mega IPO
While the company has not indicated the IPO size, market estimates are that the company is likely to mop up around Rs 15,000 crore
The SEBI, however, said that exchanges will have to seek its prior approval for launching or modifying any contract expiry or settlement day.
(Reuters) After Hyundai Motor India, another Korean giant is planning to list its shares on the Indian exchanges. LG Electronics India has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). While the company has not indicated the IPO size, market estimates are that the company is likely to mop up around Rs 15,000 crore.
Hyundai had raised Rs 27,000 crore from the IPO and listed its shares in India in October 2024.
The LG IPO comprises an offer for sale consisting of up to 10.18 crore equity shares by its parent company, LG Electronics. This move marks a significant step for LG Electronics India, a subsidiary established in 1997, which has been a consistent leader in the Indian home appliances and consumer electronics market.
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