LG India Selects Banks for IPO, Aims for $1.5 Billion Valuation

South Korean electronics giant plans to file offer document soon

Eyes Indian market for growth, plans to expand operations

New Delhi, India – [Date] LG India, the Indian subsidiary of South Korean electronics giant LG Electronics, has reportedly selected banks to manage its initial public offering (IPO) in India. According to industry sources, LG India plans to file its offer document with the Securities and Exchange Board of India (SEBI) soon. The company is targeting a valuation of around $1.5 billion in the IPO, which is expected to be one of the largest in India this year. The proceeds from the IPO will be used to expand LG India's operations in the country, including setting up new manufacturing facilities and launching new products. LG India has a strong presence in the Indian market, with a wide range of products including smartphones, TVs, refrigerators, and washing machines. The company has been growing rapidly in recent years, driven by the increasing demand for consumer electronics in India. The Indian IPO market has been buoyant in recent months, with several large companies raising funds through public offerings. LG India's IPO is expected to be well-received by investors, given the company's strong brand name and growth potential. LG India has not yet announced the specific banks that it has selected to manage the IPO. However, industry sources say that the company is likely to appoint a consortium of domestic and international banks. The IPO is expected to be launched in the second half of 2023, subject to market conditions.