Sat Sep 14 10:16:00 UTC 2024: ## LG Electronics Eyes $1.5 Billion IPO in India

**New Delhi:** South Korean electronics giant LG Electronics is reportedly preparing for an initial public offering (IPO) in India, aiming to raise between $1 billion and $1.5 billion at a valuation of $1.5 billion.

The company has reportedly engaged investment banks Bank of America, Citigroup, JP Morgan Chase, and Morgan Stanley to manage the public issue. The IPO prospectus could be filed as early as next month, with the listing expected to open next week.

Sources familiar with the matter say LG is exploring the IPO as part of its strategy to achieve a $75 billion revenue target by 2030. This comes after LG CEO William Cho confirmed last month that the company was considering an IPO among other options.

The potential IPO would mark a major move for LG in the Indian market, where it competes with fellow South Korean giant Samsung Electronics in the white goods sector. LG’s move follows the recent filing of a red herring prospectus by Hyundai Motor India for its own IPO, which is expected to be the largest in the country’s history.

Hyundai’s IPO aims to overturn the “Korean discount,” a phenomenon where South Korean companies are often valued lower than their global counterparts. Hyundai Motor India’s valuation currently sits at a 23-48 per cent discount to its global peers, according to InCred Research Services.

LG’s IPO will be closely watched as it signifies a growing trend of South Korean companies seeking to capitalize on the Indian market.

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