Ahead of the public listing of LG Electronics India, the chief of its parent groupLG, LG Corp, is likely to visit India. The 27-year-old LG Electronics India filed the Draft Red Herring Prospectus (DRHP) in December last year.
LG Corp Chairman and CEO Koo Kwang-mo is likely to visit India later in February, marking the first such visit by the conglomerate in decades
Ahead of the public listing of LG Electronics India, the chief of its parent groupLG, LG Corp, is likely to visit India. The 27-year-old LG Electronics India filed the Draft Red Herring Prospectus (DRHP) in December last year.
LG Corp Chairman and CEO Koo Kwang-mo is likely to visit India later in February, marking the first such visit by the conglomerate in decades, reported The Economic Times (ET), citing company executives.
The report claimed that the LG chief plans to finalize the India IPO and explore new investment opportunities in the country’s display and component manufacturing sectors. It remains unclear whether Koo will meet with ministers or government officials during his visit.
The India IPO plan was first announced by LG Electronics Inc. CEO William Cho in August. It was one of the many options the parent firm was considering to achieve its revenue target of $75 billion by 2030.
The expected Rs 15,000 crore public offering would position LG Electronics India alongside companies like LIC, Hyundai Motors, Paytm and Coal India in launching mega IPOs on Indian stock exchanges.
LG Electronics India's Indian arm was incorporated in 1997 as a wholly owned subsidiary. Today, it is a major player in home appliances and consumer electronics (excluding mobile phones) in terms of volume. LG Electronics India manufactures and sells products like washing machines, refrigerators, panel televisions, air conditioners, and microwaves. These products are manufactured at the Noida and Pune units. The firm is also in the process of setting up a new factory in Sri City, Andhra Pradesh.
According to its DRHP, LG's Home Appliances and Air Solution division generated 73.77%-78.97% of revenue in 2024, with refrigerators, washing machines, air conditioners, and TVs contributing 33.71%-16.31%.
LG competes with brands like Voltas, Havells, Godrej, Haier, Whirlpool, Philips, Samsung, and Sony.
Globally, LG is a leading producer of OLED and IPS displays for various industries and owns LG Innotek, which manufactures camera modules, photomasks, and components for the automotive, mobile, display, and semiconductor sectors. However, unlike rival Samsung, these businesses have yet to establish operations in India. LG Corp only other operations in India is in the chemicals sector.