LG Electronics India Set for ₹11,628 Crore IPO, Reaffirming Market Commitment
LG Electronics Inc is set to reaffirm its commitment to the Indian market with a significant IPO of its India arm. Despite geopolitical uncertainties and volatile stock market conditions today, the company sees immense potential in the region.
The IPO will see LG Electronics India offloading up to 10.2 crore shares, valued at up to ₹11,628 crore. This values the company at around $8.6 billion at the upper end of the price band. The issue is open for subscription on October 7-9, with investors able to bid for a minimum of 13 shares.
LG Electronics Inc has a long history in India, operating since 1997. The company has consistently introduced innovative products and services tailored to Indian customers, demonstrating its commitment to 'making for India, making in India, growing with India'. The IPO is a testament to this dedication. However, the company did face challenges earlier this year, halting the IPO in April due to uncertain market conditions. It has since obtained regulatory approval and is now proceeding with the issue.
The IPO is priced at a significant discount compared to its peers trading in the DJIA, indicating LG Electronics Inc's confidence in the Indian market. The company's chief in India, though unnamed, is expected to play a crucial role in driving this growth. With this IPO, LG Electronics Inc is not just raising funds but also reaffirming its long-term commitment to the Indian market.
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