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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] Seoul/New Delhi, October 7 — LG Electronics’ Indian subsidiary achieved full subscription on the first day of its retail investor offering, signaling strong market confidence ahead of its initial public offering (IPO) on the Indian stock exchange.
According to Bloomberg, LG Electronics offered 71.3 million shares, which were 104% subscribed as of Monday (local time). The report described the outcome as “a rare success for a large-scale equity sale in India,” adding that the listing could value LG Electronics India at up to USD 8.7 billion (approximately ₩12.4 trillion).
Analysts note that the IPO will further strengthen LG Electronics’ position as India’s largest home appliance manufacturer, supported by robust brand recognition and manufacturing capacity across key consumer electronics segments.
Last month, LG Electronics’ board approved the sale of 101.8 million shares, valued at approximately ₩1.8 trillion, in preparation for the listing. The company completed its institutional book-building on October 6 and launched the retail offering on October 7, which will run through October 9. The official listing date is scheduled for October 14.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
