LG Electronics India is expected to file the updated draft red herring prospectus (DRHP) with the markets regulator, SEBI, for its Rs 15,000 crore initial public offering in early May 2025. As per market buzz, after filing the updated DRHP, the company is focusing on hitting the D-Street by the end of May 2025. Also, the company’s chief executive of LG Electronics, Cho Joo-wan, is expected to visit India to attend the listing day ceremony.
The Indian arm of South Korean firm LG Electronics filed its DRHP with SEBI on December 6, 2024. The company will be all set for its market debut with the updated DRHP.
LG India IPO: No fresh issue of shares
As per the DRHP, the IPO will be a complete offer for sale (OFS) of up to 10.18 crore equity shares, having a face value of Rs 10 per share. This means the company’s already existing shareholders and promoters will be selling their stake to the public. However, the valuation of IPO can drop to Rs 10,500- 11,500 crore levels due to the stock market conditions.
Financials of LG India
The company posted a revenue of Rs 21,352 crore in FY24, an increase of 7.5% year-on-year compared to Rs 19,868.24 crore in FY23. The net profit rose by 12.35% YoY to Rs 1,51.07 crore from Rs 1,344 crore in the previous fiscal year. In Q1FY25, LG India reported a revenue of Rs 6,408.80 crore and a net profit of Rs 679.65 crore.
About LG Electronics India
LG Electronics India was founded in 1997 and is one of the leading consumer electronics, home appliances, and IT products companies in India. It is a subsidiary of LG Electronics.