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LG Electronics India files for IPO, may raise ₹15,000 crore
Financial Express Mumbai
|December 07, 2024
LG ELECTRONICS INDIA, the domestic arm of the South Korean electronics and consumer durables major LG Electronics Inc, on Friday filed the draft red herring prospectus (DRHP) for its initial public offering (IPO).
Though it did not mention the issue size, industry sources said it is likely to be over ₹15,000 crore.
LG will be the second Korean major after Hyundai Motor India to be listed in India. At this size, it will be the fourth-largest IPO in the country after Hyundai Motor (₹27,870 crore), LIC (₹21,008 crore) and Paytm (₹18,300 crore).
The IPO will be entirely an offer for sale (OFS) of 101.8 million equity shares by the parent firm with face value of ₹10 each, with no fresh issue component, according to the DRHP.
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