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LG Electronics India IPO: LG Electronics India Limited on Friday filed preliminary documents with capital market regulator SEBI to bring an initial public offering (IPO). The company is the Indian unit of South Korea's LG Electronics.
According to the IPO document filed with the Securities and Exchange Board of India (SEBI), the proposed IPO is entirely an offer for sale (OFS) of 10.18 crore shares of promoter LG Electronics Inc. It does not include any new issue. LG Electronics will sell 10,18,15,859 shares with a face value of Rs 10. After the issue, its shareholding in the company will decrease by 15 percent to 57.69 crore shares.
LG Electronics India is a leading company engaged in the business of major home appliances and consumer electronics. LG Electronics will be the second Korean company to be listed in India after Hyundai Motors India Limited.
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