LG Electronics Makes Major Move in Indian Market with Upcoming IPO
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Synopsis
LG Electronics India is preparing for a significant IPO following Hyundai Motor India's successful listing. The company aims to finalize its IPO plans during a visit from Chairman Koo Kwang-mo. The proposed ₹15,000 crore offering would enhance LG's standing among major players in the Indian market.
Key Takeaways
- LG Electronics India is set for a major IPO.
- Koo Kwang-mo plans to visit India to finalize IPO details.
- The IPO could raise ₹15,000 crore.
- LG’s Home Appliances division is a significant revenue generator.
- India is crucial for global manufacturing and investment growth.
New Delhi, Feb 17 (NationPress) Following the successful listing of Hyundai Motor India Ltd (HMIL) on the Indian stock exchange with a remarkable ₹27,856 crore initial public offering (IPO), another South Korean powerhouse, LG Electronics India, is gearing up for its own significant IPO.
This month, Koo Kwang-mo, Chairman and CEO of the parent company LG Corp, is anticipated to visit India.
Reports indicate that the LG chief intends to finalize plans for the India IPO and assess new investment avenues within the nation.
In December of last year, LG Electronics India submitted the Draft Red Herring Prospectus (DRHP) to the market regulator SEBI.
The proposed ₹15,000 crore public offering would place LG Electronics India in the company of major players like LIC, Hyundai Motors, Paytm, and Coal India, who have also executed significant IPOs on the country's primary stock indices.
According to the submitted DRHP, LG's Home Appliances and Air Solution division accounted for 73.77% to 78.97% of revenue in 2024, with refrigerators, washing machines, air conditioners, and televisions contributing 33.71% to 16.31%.
In a media statement on Monday, Hong Ju Jeon, Managing Director of LG Electronics India, remarked that India has emerged as one of the quickest-growing markets for international corporations.
As a center for global manufacturing and innovation, India is now pivotal to the vision of “Make in India”, reinforcing its status as a key player in multinational operations.
“India serves not only as a gateway but also as a cornerstone for achieving sustainable, scalable growth on the global stage,” he expressed.
In this light, the 2025 Union Budget presents a noteworthy opportunity for India to establish a comprehensive framework that could propel the country’s expanding domestic manufacturing sector into a global hub.
The nation's goal is to elevate itself from the fifth largest to the third largest economy by 2027, surpassing both Japan and Germany.
“This not only lays the foundation for the economic progress of the country towards becoming a developed nation by 2047, but also sets the stage for corporations to evolve into global manufacturing powerhouses with a stable and resilient base capable of serving worldwide demands,” he further noted.
