Lg electronics india ipo: LG Electronics India Limited, a subsidiary company of South Korean Chabol LG, has got the approval of market regulator SEBI for an Initial Public Offering (IPO) of Rs 15,000 crore. The news agency has given this information quoting sources. After the listing of Hyundai Motors India Limited in October last year, it will be the second South Korean company to enter the Indian stock market. In December, LG Electronics India filed initial documents for IPOs for IPOs (SEBI) for IPO.
15,000 crore rupees can be size
Under the IPO, the original company will sell more than 10.18 crore shares, which is equivalent to 15 per cent stake. People aware of the case said that now the company has got approval to bring its public issue from SEBI. The company did not disclose the total offering size, but he said that the estimated IPO size is worth Rs 15,000 crore. Since the public issue is completely based on the sale offering (OFS), LG Electronics India will not get any IPO income. The raised fund will go to South Korean original company.
LG Electronics India: About the company
LG Electronics India is a well-known name in Consumer Electronics and Home Appliances segments. From washing machines and refrigerators to panel TV and air conditioner, the market share of this brand is quite good, especially in offline retail. The company provides services in both business-to-consumer (B2C) and business-to-business (B2B) market. This IPO has the support of major investment banks around the world. Morgan is Stanley India, JP Morgan India, Axis Capital, Bofa Securities India and Citigroup Global Markets India Book-Rringing Lead Manager.
Drought in IPO market since 14 February
This year, the IPO of Quality Power Electrical Equipment was launched on 14th of February this year and it was listed on 24 February. No new mainboard IPO has been launched since 14 February. At the same time, no information is coming on which day a new IPO will open. Some mainboards are in the IPO line, but there has been no date regarding their launch. Meanwhile in the IPO market, there is a lot of movement about some SME IPO. In fact, the long -running selling in the stock market has brought drought in the IPO market in a way.
