LG India files paper with Sebi to launch an IPO

LG Electronics India Ltd, the Indian subsidiary of South Korea’s LG Electronics Inc., has filed draft papers with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO). If successful, LG would become the second major Korean brand, after Hyundai, to list its local subsidiary on Indian stock exchanges.

Similar to Hyundai, LG’s IPO size is expected to be substantial. Reports indicate that the issue size could be approximately $1.8 billion (over Rs 15,000 crore).