South Korea’s LG Electronics Inc. is preparing to list its Indian unit, LG Electronics India Pvt., in Mumbai in 2025, aiming for a valuation of up to $15 billion. This revised target, higher than the initial $13 billion valuation estimated in September, follows encouraging feedback from analysts and investors, according to sources familiar with the matter.
A formal roadshow for the IPO is expected to begin within the next two months, with the listing planned for the first half of 2025. However, the final valuation could adjust based on investor demand.
In early February, LG Electronics filed a draft red herring prospectus with regulators in India outlining a plan to sell as many as 101.82 million shares in the IPO. All shares will be sold by existing stakeholders with no new equity being issued, and the IPO is projected to raise between $1 billion and $1.5 billion. The offering has mandated the leading financial institutions including Morgan Stanley, JPMorgan Chase & Co., Axis Capital Ltd., Bank of America Corp., and Citigroup Inc. as managers on the deal.
The IPO of LG’s Indian unit also comes after a blockbuster year for share sales in the country, where companies raised almost $18 billion in 2024 through new listings. That includes high-profile sales such as the record $3.3 billion IPO by Hyundai Motor Co. and huge offerings by Swiggy Ltd. and NTPC Green Energy Ltd. each raising more than $1 billion.
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Source: Moneycontrol
News Desk
