New Delhi, March 13 – LG Electronics India Limited, a subsidiary of South Korean conglomerate LG, has received approval from the Securities and Exchange Board of India (SEBI) for its ₹15,000 crore initial public offering (IPO). As per agency report, sources familiar with the matter confirmed the regulatory clearance on Thursday.
Following Hyundai Motors India's listing last October, LG Electronics India will become the second South Korean company to enter the Indian stock market. The company had filed its draft red herring prospectus (DRHP) with SEBI in December, proposing to sell over 10.18 crore shares, representing a 15 percent stake in the company.
Industry sources revealed that with SEBI’s approval now in place, LG Electronics India is set to move forward with the public offering. While the exact size of the IPO remains undisclosed, estimates suggest it will be around ₹15,000 crore.
Since the offering is entirely structured as an Offer for Sale (OFS), LG Electronics India itself will not receive any proceeds from the IPO. Instead, the funds raised will be directed to its South Korean parent company.
