The price band for the IPO will be announced soon.
The company raise funds from anchor investors a day prior to the IPO opening, which is on October 6.
The IPO was in the works for quite some time but the company had earlier shelved plans due to volatile market conditions. The plans now revived with the issue opening next week and the IPO will be one of the biggest this year.
Since the IPO is completely an OFS, all the funds raised will go to the selling shareholder, which is the Korean parent in this case.
LG Electronics is a household name in India and has strong brand recall going for it, where it is a market leader in major home appliances and consumer electronics (excluding mobile phones) in terms of volume.Additionally, the company has been a number one player in this industry for 13 consecutive years (CY2011 to CY2023) as per the value market share in the offline channel in India, according to a Redseer Report. When compared to listed industry peers like Havells India, Voltas, Whirlpool of India, and Blue Star, LG Electronics India achieved the highest revenue from operations and earnings per share (EPS) in fiscal 2024.
India’s appliances and electronics market has grown at approximately 7% from CY19 to CY24 and this growth is expected to accelerate to approximately 11% from CY24 to CY29 driven by rising disposable incomes, growing urbanization, and increasing penetration of appliances and electronics in both urban and rural areas.
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