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LG Electronics India IPO: Another new player is set to enter the initial public offering (IPO). LG Electronics India Ltd., the Indian arm of the South Korean company, is preparing for its initial public offering (IPO).
The company on Friday submitted the draft red herring prospectus for the IPO to capital markets regulator SEBI. According to the DRHP, the proposed IPO is entirely promoter LG Electronics Inc’s Rs 10.18 crore equity share sale (OFS) plan.
According to information given in the draft red herring prospectus, LG Electronics Inc. will sell 10,18,15,859 equity shares of Rs 10 each. After this proposal, his stake in the company will reduce by 15 percent to 57.69 crore shares. Therefore, LG Electronics India will not get any revenue from the IPO. Listing of equity shares will enhance brand imager. This will provide liquidity and public market.
LG Electronics India is a leading player in home appliances and consumer electronics. The company’s products are sold to both B2C and B2B customers in India and internationally.
Morgan Stanley India Company, JP Morgan India, Axis Capital, BofA Securities India and Citigroup Global Markets India are the merchant bankers to the issue.
