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According to Bloomberg, the electronics giant has already selected top global banks, including Morgan Stanley, JPMorgan Chase, Citigroup, and Bank of America, to manage the IPO.
The LG India IPO, anticipated to launch next year, is projected to raise between $1 billion and $1.5 billion, granting LG Electronics India Pvt Ltd. a substantial valuation of nearly $13 billion. While discussions continue, the final size and timing of the offering could still change as further details are ironed out. The company may also consider adding more banks, including local ones, to the list of arrangers.
With plans to file a prospectus with India's stock market regulator by next month, LG's IPO is part of a broader strategy to boost its electronics revenue and revitalize its consumer electronics segment. The company has set a target to achieve $75 billion in revenue by 2030, and according to CEO William Cho, pursuing an IPO is a crucial step in reaching this goal and enhancing LG’s global market presence.
This IPO reflects the growing appeal of India as a hub for international investment, as other global firms, like Hyundai Motor Co., also consider listing their Indian units. LG's Indian IPO underscores the country’s rising significance in the global business landscape and could further solidify LG's position in the electronics market by tapping into India’s expanding consumer base.
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