LG Electronics’ Indian arm files IPO papers with Sebi

LG Electronics India Ltd, the Indian arm of the South Korean company, on Friday filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO).

The proposed IPO is entirely an offer for sale (OFS) of 10.18 crore equity shares by promoter LG Electronics Inc with no fresh issue component, according to the draft red herring prospectus (DRHP).