LG Electronics Inc. is preparing for a significant initial public offering (IPO) of its Indian operations, potentially raising up to $1.5 billion. The IPO is part of LG’s strategy to boost its electronics revenue and revitalize its consumer electronics segment.
Bloomberg reports that LG has engaged a consortium of major banks, including Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley, to manage the offering. The IPO could value LG Electronics India Pvt Ltd at around $13 billion and may occur as early as next year.
LG is expected to file a prospectus with India’s stock market regulator soon. The final size and timing of the IPO could change, with the possibility of additional banks joining the underwriting team.
The move reflects India’s growing appeal to global investors, with other companies like Hyundai Motor Co. also preparing major listings in the country. LG aims to achieve $75 billion in electronics revenue by 2030.
