January 19, 2025 11:58 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Kolkata court convicts civic volunteer Sanjoy Roy in RG Kar rape-murder case | Saif was stabbed repeatedly, he tried to protect Taimur and Jeh: Kareena Kapoor Khan records statement with police | Escaped death by 20-25 minutes: Sheikh Hasina alleges opposition wanted to kill her | Cabinet's decision on 8th Pay Commission will improve quality of life, give boost to consumption: PM Modi | 'It has been an incredibly challenging day': Kareena Kapoor Khan requests privacy after Saif Ali Khan's stabbing incident | 'Distorting history': Mamata slams Mohan Bhagwat over his Ram Temple consecration 'marking true independence' remark | Saif Ali Khan stabbing incident: Actor who received six wounds is out of danger, one accused identified | ISRO creates history docking two Indian satellites in space | US-based short seller Hindenburg Research that targeted Adani Group and SEBI chairperson to be disbanded | Saif Ali Khan stabbed during burglary attempt at home, hospitalised; police probe on
LG Electronics CEO William Cho said the company wants to be India's national brand and looking for further production expansion.

LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr

| @indiablooms | Dec 07, 2024, at 01:14 am

Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).

According to a Moneycontrol report, the IPO size could be over Rs 15,000 crore. The IPO will consist of an Offer for Sale (OFS) of 10.18 crore equity shares of face value of Rs 10 each, and the company will not receive any proceeds from the IPO.

"We aim to be a national brand in India, and as a company, we have grown and are loved by Indian people, providing the products and solutions that will eventually make their lives better. I understand there is increased interest in the Indian market amongst global investors. It (India IPO) is one of the multiple options we can consider; it is not yet confirmed," said LG Electronics CEO William Cho.

For the quarter ended June 2024, LG Electronics India reported total revenue from operations of Rs 6,408.8 crore, with its home appliance and air solutions division contributing nearly 79% of the revenue. For FY24, the company recorded a total revenue of Rs 21,352 crore.

Since 2022, LG India has been investing in upgrading its production facilities and manufacturing processes to improve efficiency.

"We expect to continue making investments to support our growth. We intend to construct a third manufacturing unit in Andhra Pradesh to expand our manufacturing capacity to address the potential growth in demand for products," the DRHP stated.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm