LG Electronics India Ltd, the Indian subsidiary of South Korea’s LG Group, announced on Monday that it has raised ₹3,475 crore from anchor investors ahead of its upcoming initial public offering (IPO). The company allotted 30,481,539 equity shares to 149 anchor investors at ₹1,140 per share, according to a filing with the BSE.
Key international anchor investors include the Singapore Government, BlackRock Global Funds, Goldman Sachs, Fidelity Funds, Abu Dhabi Investment Authority, and Government Pension Fund Global. Prominent domestic institutions such as SBI Mutual Fund, HDFC Mutual Fund, ICICI Prudential MF, Kotak MF, SBI Life Insurance, HDFC Life Insurance, and ICICI Prudential Life Insurance also participated in the anchor allotment.
LG Electronics India IPO Details:
The ₹11,607 crore IPO will be open for subscription from October 7 to October 9, with a price band of ₹1,080–₹1,140 per share. At the upper band, the company is valued at around ₹77,400 crore.
This offering marks the second time a South Korean firm is listing in India, following Hyundai Motors India in 2024.
About the Company:
LG Electronics India is a leading player in home appliances and electronics, catering to both B2C and B2B segments. It manufactures products like washing machines, TVs, air conditioners, and microwaves at its Noida and Pune plants, offering full service support.