The Indian stock market is set to welcome another heavyweight – LG Electronics India. In the latest development, the LG Electronics India IPO has received the final go-ahead from the market regulator SEBI.
Let’s take a look at the key details of this upcoming IPO: SEBI’s recent approval paves the way for LG Electronics IPO
LG Electronics India, a subsidiary of South Korea’s LG Electronics had filed its DRHP with SEBI on December 6, 2024.
Now, with regulatory clearance in hand, the company is gearing up for its market debut. The IPO will be an offer for sale (OFS) of up to 10.18 crore equity shares, with a face value of Rs 10 per share.
As its it is a complete OFS, no fresh capital will be raised, and all proceeds will go to the parent company, LG Electronics Inc.
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LG Electronics India is no stranger to dominance. As per the Redseer Report cited in its DRHP, the company has been India’s market leader in major home appliances and consumer electronics for 13 consecutive years (2011–2023) by value market share in the offline channel.
From refrigerators to panel TVs, inverter air conditioners to microwaves, the company holds a strong foothold in the Indian market and every household.
Financial performance of the company
Talking of the financial numbers, the company clocked Rs 21,352 crore in revenue for FY24, a jump from Rs 19,868.24 crore in FY23. The profit after tax grew by 12.35% to Rs 1,51.07 crore from Rs 1,344 crore in the previous fiscal year
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Furthermore, for the quarter ending June 30, 2024, LG India posted a revenue of Rs 6,408.80 crore and a net profit of Rs 679.65 crore.
About LG Electronics IPO outlook
With SEBI’s approval, the company is expected to announce its IPO launch date soon. The IPO is being managed by Morgan Stanley India, JP Morgan India, Axis Capital, BofA Securities India, and Citigroup Global Markets India, while KFin Technologies is the registrar to the issue.
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