LG Electronics’ Indian unit seeks valuation of $8.7 billion in IPO

LG Electronics’ Indian unit seeks valuation of .7 billion in IPO


LG Electronics India is seeking a valuation of up to 774 billion rupees ($8.71 billion) in its long-delayed initial public offering, tapping into a bustling IPO market with one of India’s largest offerings so far this year.

Nurphoto | Nurphoto | Getty Images

LG Electronics India is seeking a valuation of up to 774 billion rupees ($8.71 billion) in its long-delayed initial public offering, tapping into a bustling IPO market with one of India’s largest offerings so far this year.

The appliance maker set a price band of 1,080-1,140 rupees per share, a public filing showed on Wednesday. The three-day share sale opens for bidding on October 7. Large anchor investors will be able to place bids on October 6.

The IPO will raise up to 116 billion rupees ($1.3 billion) at the top of the price range for its Korean parent LG Electronics Inc, which is offloading a 15% stake in the company.

LG Electronics India is not issuing new shares in the offering.

Having initially filed for an IPO last December, LG Electronics had sought a listing by May, but delayed the share sale, citing market volatility.

October is a busy month for IPOs in India, with non-bank lender Tata Capital’s $1.75 billion issue — the country’s largest this year — and shared office space provider WeWork’s offering scheduled to run around the same time.

The IPO also comes after the Indian tax body lowered consumption taxes on a wide range of goods including electronics to 18% from 28%, in a bid to spur demand for the lucrative festive season.

LG Electronics, India’s second-largest appliance maker, sells products such as refrigerators, washing machines and televisions.

It competes with Whirlpool and Samsung in the domestic market, which is expected to grow 12% annually till 2029, according to consultancy firm RedSeer.

The offering will be the latest in a long line of companies tapping India’s capital markets this year. Companies in India raised about 909.8 billion rupees through IPOs as of September 30, up from 770.6 billion rupees in the same period last year, according to data compiled by LSEG.



Source

European stocks higher as earnings buoy sentiment; Saab up 4.5% amid defense boom
World

European stocks higher as earnings buoy sentiment; Saab up 4.5% amid defense boom

LONDON — European stocks opened in positive territory on Friday amid a slew of earnings reports.   The pan-European Stoxx 600 was 0.1% higher at 8:43 a.m. in London (3:43 a.m. ET), though sectors and bourses were mixed. The U.K.’s FTSE 100 and Italy’s FTSE MIB were around 0.1% higher in the first hour of […]

Read More
AI, private credit, inflation: Global fund managers reveal their top concerns heading into year-end
World

AI, private credit, inflation: Global fund managers reveal their top concerns heading into year-end

Fund managers are taking a cautious stance as the fourth quarter gets underway, opting to go underweight in risk assets in favor of defensive plays with lower volatility. AI, private credit, sticky inflation — and the Fed’s ability to deal with it amid interference from U.S. President Donald Trump — are top of mind for […]

Read More
Japan’s new premier pledges early boost to defence spending, ‘proactive’ fiscal moves
World

Japan’s new premier pledges early boost to defence spending, ‘proactive’ fiscal moves

A sailor raises the Japan Maritime Self-Defense Force ensign on board the JS Ise, a Hyuga-class helicopter destroyer on June 21, 2025. Ted Aljibe | Afp | Getty Images Japan’s new Prime Minister Sanae Takaichi pledged on Friday to accelerate a defence spending target by two years, as her government pursues proactive fiscal expansion on strategic priorities. […]

Read More