Sebi nod for Rs 15K-cr IPO From LG Electronics

New Delhi: LG Electronics India Limited on Tuesday announced that it has received approval from the Securities and Exchange Board of India (Sebi) to launch its initial public offering (IPO) which is expected to be around Rs15,000 crore. The company, a wholly-owned subsidiary of South Korean giant LG Electronics Inc., had filed its draft red herring prospectus (DRHP) with SEBI on December 6, 2024.

With the final observation from the regulator, the company can now proceed with the offering, according to its statement. The IPO will be entirely an offer for sale (OFS), where LG Electronics Inc will sell up to 10.18 crore equity shares.

Each share has a face value of Rs10. This means that the IPO will not raise fresh capital for the company but will allow the parent company to offload its stake. While the company has not disclosed the total issue size, it has reportedly pegged the IPO at around Rs15,000 crore.

The IPO will be managed by investment banks Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India.