LG Electronics plans a ₹15,000-crore India IPO in October, the year’s biggest so far.
The parent will sell 15% in the local arm, after delaying an earlier launch.
The issue adds to a strong 2025 pipeline led by Tata Capital, Groww and Meesho.
South Korean equipment maker LG Electronics is preparing to launch the initial public offering of its Indian subsidiary in October, a report by the Economic Times citing sources revealed.
The consumer electronics major is expected to raise around ₹15,000 crore by selling a 15% stake, equalling about 10.2 crore shares in its domestic subsidiary. At this size, the deal would be the largest IPO in India so far this year, and the second-biggest by a Korean company after Hyundai’s market debut in October 2024.
The public offer has already received clearance from the market watchdog Securities and Exchange Board of India, following a draft prospectus filed in December 2024 and approved in March this year. LG had originally eyed an April–May launch, but postponed plans amid market volatility and weaker valuations triggered by global trade tensions and shifting US tariffs.
Book-running lead managers for the issue include Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India, the report said.
LG’s revised plan comes as India’s primary market shows signs of a improved buoyancy. Nearly 30 IPOs have raised over ₹60,000 crore this year, led by HDB Financial Services’ ₹12,500-crore issue. Another ₹70,000 crore of offerings are in the pipeline, including Tata Capital’s ₹17,200-crore float, alongside planned listings from Groww, Meesho, PhonePe, Boat, WeWork India, Lenskart, Shadowfax and Physics Wallah.
LG’s parent company had initially sought a valuation of about $15 billion for the Indian business but met resistance from investors. During its April earnings call, LG’s chief financial officer, Kim Chang-tae, emphasised that the Indian listing would proceed only when conditions allowed for ‘proper valuation and maximum synergy’ with the group’s broader strategy.
