LG Electronics India to launch Rs 11,600 crore IPO via offer for sale

LG Electronics India will launch its initial public offering on October 7, with the public subscription window running through October 9 and anchor investor bidding beginning on October 6, the company said in its red herring prospectus filed September 30. The share sale is an offer for sale of up to 101.82 million equity shares, representing about a 15 percent stake held by parent LG Electronics Inc., and is expected to raise roughly Rs 11,600 crore. Shares are being offered at a price band of Rs 1,080 to Rs 1,140 each, which values the Indian unit at about Rs 77,400 crore, or roughly US$8.7 billion. Trading is slated to begin on the BSE and NSE on October 14.

The IPO will be conducted entirely through an offer for sale, meaning LG Electronics India will not receive any proceeds; funds from share sales will be remitted to the South Korean parent. The company filed its preliminary draft prospectus in December 2024 and received in‑principle approval from the market regulator in March, but delayed the listing amid market volatility. The final offer price band and timetable were disclosed with the red herring prospectus, and the firm appointed Morgan Stanley India, J.P. Morgan...