LG Electronics India's Rs 11,607-cr IPO to open on Oct 7; sets price band at Rs 1,080-1,140/share

New Delhi, Oct 1 (PTI) LG Electronics India Ltd, the Indian arm of South Korea's LG conglomerate, on Wednesday announced that its much-awaited Rs 11,607 crore initial public offering (IPO) will open for subscription on October 7, giving the valuation of around Rs 77,400 crore (USD 8.7 billion) The company's maiden public offering will be available for subscription until October 9 in the price range of Rs 1,080-1,140 per share. The bidding for anchor investors is scheduled for October 6, the company said in a public announcement.

This will be the second South Korean company to tap the Indian stock market, following the listing of Hyundai Motors India Ltd in October last year. Also, this will be the third-largest IPO of 2025 after HDB Financial Services' Rs 12,500 crore in June and Tata Capital's Rs 15,500 crore public issue scheduled to open on October 6.

LG Electronics India's IPO is entirely an offer-for-sale (OFS) of over 10.18 crore shares, representing about 15 per cent stake, by the South Korea-based parent.

Since the public issue is completely an OFS, LG Electronics India will not receive any IPO proceeds. The funds raised will go to the South Korean parent.

The IPO comes at a time when the Indian market is experiencing a boom in primary market activity, despite a struggling broader equity market. In 2025, a total of 77 companies have already tapped the mainboard market through IPOs, and several large issues are lined up for this month.

LG Electronics India is a leading player in major home appliances and consumer electronics. Its products are sold to both B2C and B2B customers in India and abroad.

It manufactures and sells products, including washing machines, refrigerators, LED TV panels, inverter air conditioners, and microwaves. Also, it provides installation, repair, and maintenance services for all its products.

It has manufacturing units in Noida and Pune with an installed capacity of 1,45,10,000 products collectively. The company had an extensive supplier network comprising 287 suppliers as of June 30, 2025.

On the financial front, LG Electronics India's revenue from operations was Rs 24,366.64 crore for FY25 compared to Rs 21,352 crore in the preceding year. Its net profit rose to Rs 2,203 crore from Rs 1,511 crore during the period.

In terms of issue allocation, 50 per cent of the IPO is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors. Also, investors can place bids for a minimum of 13 shares and in multiples thereafter.

LG Electronics India is expected to make its stock market debut on October 14.

Morgan Stanley India, J P Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India are the book-running lead managers for the IPO. PTI SP SP SHW